OREANDA-NEWS. May 03, 2011. The Asian Banker organized the 2011 Asian Banker Leadership Achievement Award Ceremony in Hong Kong. Owing to its outstanding performance in trade finance, Agricultural Bank of China Limited (ABC) was awarded the International Transaction Banking Award, Asia Pacific 2011 – Leading Counterparty Bank in the Asia Pacific, and the Leading Counterparty Bank, 2011 for China. The two awards show full recognition on ABC's trade finance from the international peers and professional media, reported the press-centre of ABC.

The international jury of The Asian Banker is a prestigious research organization. The Asian Banker Transaction Banking Awards have won high trust and wide recognition in banking community in the Asian-Pacific region and the Gulf region. The selection has spanned over four months, with altogether 175 participating financial organizations from 20 countries and regions in the Asian-Pacific region, the Gulf and the Central Asia.

In 2010, ABC domestic branches granted international trade finance of USD56,307 million, up 108.1% year-on-year; the international settlement volume reached USD467,915 million, up 34.03%; the foreign L/G business volume realized USD6,176 million, up 177.1%. ABC also signed Memorandums of Understanding with many large international banks, and achieved leap-forward development in the trade finance and cooperation with the international peers.

In addition, ABC has consistently enhanced abilities of product innovation and services regarding international settlement and trade finance. By bringing into full play its own advantages, ABC provides customerization services for Chinese enterprises. It also actively develops cross-border RMB business, and has opened cross-border RMB accounts for 71 foreign-funded banks (including ABC Hong Kong Branch and Singapore Branch).

ABC shone out among the candidate institutions in the selection and became the first and sole Chinese bank that was honored the two awards mentioned above this year. It symbolizes that after its successful listing, ABC has made new achievements in establishing an excellent large listed bank and developing its international business.