Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

AGRICULTURAL BANK OF CHINA LIMITED

(601288)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Agricultural Bank of China Ltd : ABC’s New York Bank Launches USD Clearing Business

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/14/2013 | 05:50am EDT

On October 21 of New York local time, Agricultural Bank of China Limited (ABC) New York Branch had its US dollar clearing business successfully launched. A  major "first" for ABC, ABC thus becomes a tier-one global clearing bank for US Dollars
The clearing business is settled through the Clearing House Interbank Payment System (CHIPS). It's learnt that CHIPS is the world's most important clearing institution and accounts for 96% of global US dollar clearing. After New York Branch started business, ABC made active efforts to join CHIPS and eventually became its 53rd participating bank for clearing in the world.
The successful launch of the business is significant for ABC. On the one hand, it reduces ABC path dependence on correspondent banks and improves its ability in business value creation. Previously, ABC US dollar clearing business was handled by correspondent banks in the United States, and major business resources were occupied by international large clearing banks. After the business is launched, ABC realizes tier-one US dollar clearing through New York Clearing House for the first time. It effectively promotes the self-dependent research and development of US dollar clearing products and improves the business benefits. On the other hand, it enhances ABC comprehensive service ability for clients. Many clients of ABC, especially trade financing clients, have considerable demand for US dollar clearing business. Launch of the US dollar clearing business further strengthens ABC ability in cross-border financial services and elevates its comprehensive service level for clients.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AGRICULTURAL BANK OF CHINA
10/18AGRICULTURAL BANK OF CHINA : Change of Date of Board Meeting
PU
10/14AGRICULTURAL BANK OF CHINA : Announcement on resignation of director
PU
10/13AGRICULTURAL BANK OF CHINA : Date of board meeting
PU
10/10AGRICULTURAL BANK OF CHINA : Changes in supervisors
PU
09/27AGRICULTURAL BANK OF CHINA : 2019 Interim Report 2019-09-27
PU
09/25AGRICULTURAL BANK OF CHINA : Indicative announcement on change in shareholding
PU
09/23AGRICULTURAL BANK OF CHINA : OVERSEAS REGULATORY ANNOUNCEMENT - Agricultural Ban..
PU
09/06AGRICULTURAL BANK OF CHINA : Announcement On The Completion Of The Issuance Of U..
PU
09/04AGRICULTURAL BANK OF CHINA : Monthly Return of Equity Issuer on Movements in Sec..
PU
09/01AGRICULTURAL BANK OF CHINA : Announcement on Changes in Directors 2019-09-02
PU
More news
Financials (CNY)
Sales 2019 635 B
EBIT 2019 414 B
Net income 2019 210 B
Debt 2019 -
Yield 2019 6,49%
P/E ratio 2019 4,81x
P/E ratio 2020 4,50x
Capi. / Sales2019 1,95x
Capi. / Sales2020 1,82x
Capitalization 1 237 B
Chart AGRICULTURAL BANK OF CHINA LIMITED
Duration : Period :
Agricultural Bank of China Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AGRICULTURAL BANK OF CHINA
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 3,75  CNY
Last Close Price 2,86  CNY
Spread / Highest target 72,0%
Spread / Average Target 31,1%
Spread / Lowest Target -1,20%
EPS Revisions