OREANDA-NEWS. January 16, 2015. The Financial Stability Board (FSB) announced that Agricultural Bank of China Limited (ABC) has been included in the list of global systemically important banks (G-SIBs), bringing the total number of G-SIBs to 30. ABC’s corresponding capital supervision requirements will be further enhanced from the current basis and requirements on its additional paid-in capital will come into effect step by step in 2016.

ABC’s selection as a G-SIB reflects the international community's high recognition of China's financial sector and ABC's reform achievements. Regulators have stricter requirements for G-SIB’s robustness of corporate governance, and relevance and effectiveness of information disclosure. Hereafter, ABC will strictly abide by international regulatory standards, constantly strengthen corporate governance and risk management, and further enhance transparency of information disclosure. As a G-SIBs, ABC will add to the stability of the international and domestic financial system.

ABC’s third quarter financials indicate that ABC earned a net profit of RMB152.505 billion in the first three quarters of 2014, up 10.48% year on year, with total assets at RMB15,959.249 billion. According to measurement of the Methods of commercial bank capital management, its consolidated statement core tier-1 capital adequacy ratio, tier-1 capital adequacy ratio, and capital adequacy ratio stood at 8.90%, 8.90% and 12.38%, respectively.