Agricultural Bank of China (HKG:1288) Plans to Open Branches in London and Seoul

Sydney, Dec 2, 2011 AEST (ABN Newswire) - Agricultural Bank of China Limited (SHA:601288) (HKG:1288) ("the Bank") is planning to open branches in London, UK and Seoul, Korea, where the Bank currently has representative offices.

Following approvals received from the China Banking Regulatory Commission, Agricultural Bank of China (UK) Limited and Seoul Branch of Agricultural Bank of China Limited have received business licenses from the regulatory authorities in their respective jurisdictions, said the Bank in an announcement today.

Agricultural Bank of China is one of the "Big Four" state-owned commercial banks in China. The Bank ranked No.141 in the global Fortune 500 companies in 2010, and ranked No.14 in The Banker's "Top 1000 World Banks" list in terms of profit before tax for the year of 2009. Recently, the Bank won the title of the "Most Innovative Chinese Company" in 2011 from the Fortune China.

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