OREANDA-NEWS. April 22, 2011. After releasing the first annual report since the public listing, Agricultural Bank of China Limited (ABC) issued the Sannong Financial Services Report of 2010 (hereinafter the “Report”) recently, summarizing the services provided for Sannong (agriculture, rural areas and farmers) and county-level economy in the last year. The Report reflects the consistent endeavors of ABC on serving Sannong and shows a sense of social responsibility and good corporate image of a large listed bank, reported the press-centre of ABC.

During the 60-year history of ABC, 2010 is a year of breakthrough. After long preparations and hard working, ABC has finally transformed from a state-owned commercial bank to a large publicly listed bank.

ABC provided effective Sannong financial services in the last year. The Report shows, by the end of 2010, the agriculture-related loan balance of ABC had reached to RMB1.48 trillion, a net increase of more than RMB270 billion compared to the previous year, showing a much higher growth speed. 28,497,000 new Huinong cards were issued last year, making the total number of cards issued break 61,000,000. The loan balance to farmer households had exceeded RMB300 billion, nearly three times of that by the end of 2007. By the end of last year, ABC had provided loans of RMB735.4 billion for 32,400 county-level SMEs. These achievements were the result of ABC’s persistent commitment to Sannong financial services and the endeavors of ABC staff.

ABC provided perseverant Sannong financial services. In 2010, ABC actively supported the finance in rural areas, and consistently adhered to the Sannong market orientation, implemented the county-level blue ocean development strategy, enhanced the Sannong financial services and strengthened the position of the leading bank in the county-level market. During the services, ABC increased the credit investment in key areas, taking efforts to provide strong financial support for agricultural production, rural prosperity and farmers’ wealth, and provided a full range of financial services to benefit farmers via Huinong card.

ABC provided innovative Sannong financial services. In 2010, in order to practically enhance the guarantee capacity of the Sannong financial services, ABC selected eight pilot branches to further reform the County Area Banking Department in order to improve the management system and operational mechanism. Meanwhile, it launched many innovative and featured services. Through reform and innovation, a large number of typical models of Sannong services have been formed in the pilot areas such as Shouguang, Dingxi and Gong’an, providing successful examples for financially serving Sannong.

ABC focused on the integration of outlets, electronic channels, mobile services and external strength, to actively expand the Sannong financial service channels. Through establishing more self-service banking, POS machines, transfer phones, mobile banking and online banking in townships, it continuously improved rural financial environment. Farmers have been able to enjoy modern financial services in villages such as expenditure by bank card, transfer and settlement and small-amount withdrawal.

The practices of ABC’s commitment to Sannong services win more and more social recognition and praise. In the last year, it was awarded the “Top Ten Most Influential Enterprise Spirits in the 60 Years of New China”.

2011 is the first year of Twelfth Five-Year Plan period of China and the first year of ABC building an excellent large listed bank. Standing at the new starting point, ABC will further promote the Sannong financial services with more confidence and enthusiasm, to support coordinated development in urban and rural areas and build a moderately prosperous society in an all-around manner.