ABOC Turns From DeficitsAccording to latest statistics, by the end of June this year, the Agricultural Bank of China (ABOC) for the first time turned from deficits and has got a profit of 1.561 billion yuan in the combination of regular business and special business.Governor Shang Fulin Monday told a ABOC Subsidiary Governors' Meeting that ABOC had achieved a favorable turn in its business in the first half of this year. On top of its profit gains, ABOC has got the quality of its credit business largely improved. Bad credits have decreased by 2.87 percent from the early year. Inside sources told that ABOC had removed or merged more than 1,700 business sites and cut over 24,000 employees in the first half of the year. By PD Online staff member Du Minghua |
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