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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Agricultural Bank of China Limited    601288   CNE100000RJ0

AGRICULTURAL BANK OF CHINA LIMITED

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Agricultural Bank of China Ltd : ABC Builds up “Intelligent Banking” with Ten-Year Efforts

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12/10/2012 | 04:44am EST

On November 26, Agricultural Bank of China Limited (ABC) held a marketing campaign in Shenzhen to celebrate the tenth anniversary of its e-Banking business. Mr. Cai Huaxiang, Executive Vice President of ABC, Ms. Li Qingping, Retail Banking Director and General Manager of the Personal Banking Department, Mr. Xiang Songzuo, Chief Economist of ABC, and Mr. Ma Shuguang, General Manager of the e-Banking Department attended the ceremony.
Mr. Cai Huaxiang reviewed the development history of ABC e-Banking over the past ten years. He expressed that e-Banking was a platform for product innovation and customer service, a useful tool to develop and retain customers, and a channel to promote brand and create value. E-banking has become the indispensable means for ABC to deepen business transformation and cultivate core competitiveness.
Since online banking services were launched in 2002, ABC has closely followed customer demand and continued with innovation, and as a result, establishing a wide, steady and loyal customer base. ABC's numbers of personal online banking customers leads the industry, and that of corporate online banking customers. ABC remains among the top tier of Big Banks, with its annual average growth exceeding 60%. By the end of September 2012, the number of registered customers for corporate online banking reached 1.7573 million and the transaction volume totaled RMB38.35 trillion.
Leading the trend in online transactions
ABC's online banking has offered online financial services since April 8, 2002, and has been dedicated to innovation in concept, channel, operation and management. From primarily a service for account management, ABC's e-Banking has developed into to a comprehensive platform integrating financial transactions, agent distribution, wealth management and marketing, and thus fundamentally changing our customers' way of life, work and study during the past decade.
Over recent years, ABC has further strengthened integration of e-Banking channels. By fully tapping into the advantages of its portal website and personal online banking in information inquiry and transaction processing, ABC launched an innovative online transaction mode, and devised the one-stop "smart" solutions with functions such as information browsing, product comparison, purchase decision-making and transaction processing, This integration greatly improved the customer experience. The launch of the online transaction mode effectively catalyzed ABC's business transformation, playing a major role in enhancing business development and corporate image, and creating high brand and earning value.
Creating a new mode for interactive exchange
ABC Interactive e-Channel is a customer-to-bank and customer-to-customer online service platform which the ABC portal website provides to online banking customers. In line with the usage habits of Internet users, it transforms customer service from its original platform of counters, telephone, and SMS to online channels, enabling customers to easily look up and browse various ABC financial products while using familiar computer tools.
Additionally, Interactive e-Channel integrates pre-sale marketing, in-sale guidance and after-sale follow-up, addressing the weak link of customer-bank interaction. By providing a new channel for customers to access information about ABC e-Banking, Interactive e-Channel effectively solves customer questions arising at any time and reflects the development direction of real-time and all-the-way "intelligent service".
Customer participation, discussions, surveys and expert comments are integrated to ensure quality customer experience of products. Through this new information channel and service platform, ABC has created a new service mode of direct service to retail customers and joint participation throughout the bank.
Building up top-ranking "Intelligent Banking"
Recently, ABC defined e-Banking as one of the strategic pillar businesses of the bank. By combining financial business with the latest information technologies, ABC promotes e-Banking innovation in concept, channel, operation and management and is a front-runner in decision-making, brand, performance, and system building within the e-Banking sector.
Over the next three years, ABC will actively expand its customer base, focus on high net-worth customers, and set up an integrated e-Banking operation system featured by advanced technology, strict control, efficient operation and swift response, continuing to advance "Intelligent Banking" in the information age.

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Sales 2019 640 B
EBIT 2019 412 B
Net income 2019 209 B
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Yield 2019 5,72%
P/E ratio 2019 5,39x
P/E ratio 2020 5,05x
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