Agricultural Bank faces tough restructuring path – Beijing Time
From Beijing Times via China Economic Net (link) As three of China’s big four banks came under the spotlight with behemoth IPOs, the last remains saddled with non-performing loans and is still...
View ArticleAuditors find billions in fraud at Agricultural Bank – Leo Zhang
From Shanghai Daily: Auditors say they’ve uncovered 60.3 billion yuan (US$7.5 billion) worth of financial crimes and bookkeeping irregularities at the Agricultural Bank of China, underscoring the...
View ArticleAgricultural Bank of China is Ready to be Reorganized – Miaoyan and Guo Tianyong
From Shanghai Security News via Soho.com, translated by CDT: Zhou Xiaochuan, China’s central bank governor, said today “it won’t be too long before the Agricultural Bank of China is reformed.” Zhou...
View ArticleBad Debt Makes ABC a Chinese Puzzle – Richard McGregor
From Financial Times: China is in the middle of the last and most difficult restructuring of its large lenders: that of Agricultural Bank of China (ABC) , a behemoth with nearly half a million...
View ArticleChina May Inject 40 billion Dollars Into Agricultural Bank – People’s Daily...
From People’s Daily Online: Central Huijin , China’s state-owned investment company, plans to inject 40 billion U.S. dollars into the Agricultural Bank of China (ABC) , the only one of the big four...
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Chinese Bankers In Lottery Loss – Chris Xia
From BBC News: Two Chinese bank workers have been sentenced to death for stealing nearly $7m (¬£3.5m) from the bank’s vault – and losing almost all of it on the lottery. The theft, from the...
View ArticleChina’s AgBank Raises $19.23 Billion in IPO
The Associated Press reports on news surrounding the Agricultural Bank of China’s initial public offering: The Agricultural Bank of China’s initial public offering has raised more than $19 billion in...
View ArticleWarnings of Risks to China Banks
From the New York Times: A week after the Agricultural Bank of China raised nearly $20 billion from global investors in one of the biggest stock offerings in history, analysts are warning about growing...
View ArticleChina’s Sovereign Wealth Fund Tries to Bolster Stocks of Major Banks
New York Times reports that China’s Sovereign Wealth Fund bought shares of major banks in order to inject confidence in the market: The China Banking Regulatory Commission is putting heavy pressure on...
View ArticleTop Bank Chiefs Resign as Leadership Transition Looms
The chairmen of China’s two biggest banks resigned Friday to assume government positions, signaling a turnover at the top of China’s financial system ahead of Beijing’s political leadership change in...
View ArticleCDT Money: More Signs of a Slowdown
Despite suggestions last week that the yuan exchange rate had reached equilibrium and hints of possible liberalization in its trading range, officials at the People’s Bank of China set the yuan’s U.S....
View ArticleFormer Bank Executive Expelled From Party
Xinhua reports that Yang Kun, a former official at the Agricultural Bank of China, has been expelled from the CCP and handed over to China’s party judiciary after a disciplinary investigation: Yang...
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