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The predecessor of this bank can be traced back to the Agricultural Cooperative Bank established in 1951. Since the late 1970s, the bank has gone through different stages of development, including national professional banks, solely state-owned commercial banks, and state-owned holding commercial banks. In January 2009, the bank was restructured as a limited liability company. In July 2010, the bank was listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, respectively.
Our bank is one of the main comprehensive financial service providers in China, committed to building an international first-class commercial bank group with distinct business characteristics, efficient and convenient services, complete and collaborative functions, and outstanding value creation capabilities. The bank, with its comprehensive business portfolio, vast distribution network, and leading technology platform, provides a variety of corporate banking and retail banking products and services to customers. At the same time, it carries out financial market business and asset management business, covering investment banking, fund management, financial leasing, life insurance and other fields. As of the end of 2016, the total assets of the bank were RMB 19570.061 billion, loans and advances were RMB 9719.639 billion, deposits were RMB 15038.01 billion, capital adequacy ratio was 13.04%, and net profit for the year was RMB 184.06 billion.
As of the end of 2016, the Bank had a total of 23682 domestic branches, including the Head Office Headquarters, the Head Office Business Department, 3 Head Office Specialized Institutions, 37 first level (directly affiliated) branches, 365 second level branches (including provincial and district branch business departments), 3506 first level branches (including directly administered municipalities, directly affiliated branch business departments, and second level branch business departments), 19714 grassroots business institutions, and 55 other institutions. Overseas branches include 10 overseas branches and 3 overseas representative offices. The bank has 14 major holding subsidiaries, including 9 domestic and 5 overseas.
Since 2014, the Financial Stability Council has included this bank in the list of globally systemically important banks for three consecutive years. In 2016, our bank ranked 29th on the Fortune Global 500 list in the United States; In the Banker's Global Banking 1000 rankings, our bank ranks 5th in terms of Tier 1 capital. The credit rating of the Bank's Standard&Poor's issuer is A/A-1, and the default rating of Fitch's long-term/short-term issuer is A/F1.
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