OREANDA-NEWS. January 11, 2012. Agricultural Bank of China Limited (ABC) stood out from 199 Asian banks and was ranked as the third most competitive bank in Asia, according to the 2011 Asia Banks Competitiveness Ranking Report released recently at the 6th 21st Century Asia Financial Annual Meeting, reported the press-centre of ABC.

The Report, collaboratively made by the 21st Century Business Herald, Chinese University of Hong Kong and the University of Electronic Science and Technology, focuses on the financial and industrial policy adjustments and the banks' role under the context of economic deflation.
The Research Committee of Asia Banks Competitiveness Ranking evaluates the banks' overall competitiveness from the perspective of objective indicators, income indicators (average return on net assets) and subjective indicators, each accounting for one-third weight, and the final competitiveness score is computed on the basis of weighted average.

Specifically, objective indicators include seven sub-index: size, market share, asset quality, liquidity, capital adequacy, efficiency and deposit base, and branch network, with one to three more detailed indicators under each sub-index; income indicators take account of the return on net assets (ROE) in 2009, 2010 and the first half of 2011 (annualized) as well as the average score and ranking of income indicators; and subjective indicators include scores given by bankers and experts, which are both professional and forward-looking.

In recent years, adhering to the market-oriented business philosophy with customers as the focus and efficiency as the target, ABC has vigorously promoted the sound and rapid development of various businesses by relying on a wide range of outlets and broad customer base, taking full advantage of the urban and rural collaboration and making constant efforts to facilitate the transformation of development model.

In the past three years, ABC's total assets, net profit and fee-based business revenues doubled; its value creation ability, competitiveness, and capacity of risk control and sustainable development were significantly enhanced and the asset quality continued to be improved. Despite the fruitful achievements we have made and the good momentum we are enjoying, our responsibilities are heavy and there is still a long way to go. Embarking on the new period ABC has opened up, we will dedicatedly forge ahead towards a brilliant future.