|
CHINA / National |
ADBC reports US$536m international settlement business(Xinhua)
Updated: 2008-01-14 17:29 BEIJING - The Agricultural Development Bank of China (ADBC), a state-owned policy bank, said on Monday on its website that its 2007 international settlement business volume was US$536 million. ADBC started doing international business in July 2007. By the end of the year, 10 provincial branches and four municipal branches were providing international services, including international settlement, bank bills and foreign exchange services. Another 17 provincial branches would initiate these services this year, said the bank. ADBC was established in 1994 by the central government to promote rural and agricultural development. It has 2,000 branches in 30 provinces. As of the end of 2007, the non-performing loan ratio was 6.29 percent, down 1.36 percentage points from 2006. |
|