A new report by the Agricultural Bank of China says its net profit reached over 51 billion yuan in 2008 -- up 17.5 percent over the previous year. This is the first report the bank has released after the State Council approved its shareholding transformation plan in October.
AnewreportbytheAgriculturalBankofChinasaysitsnet
profitreachedover51billionyuanin2008--up17.5percent
overthepreviousyear.
ABC is the main financial service provider for farmers and the agriculture industry in China. The state-owned bank became a shareholding company in January, the last of the "big four" state-owned commercial banks to complete restructuring.
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