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Home : Investment Banks : Agricultural Bank of China to complete external audit before March source
Agricultural Bank of China to complete external audit before March sourceAn external audit of Agricultural Bank of China, the only one of the country's four biggest state-controlled banks without a stock market listing, will be completed before the end of March, a source with knowledge of the situation told XFN-Asia.
The source said the bank has pushed accounting firm Deloitte Touche Tohmatsu International to complete the audit as soon as possible so that the bank can proceed with its restructuring. China Investment Corp has confirmed that its Central Huijin Investment unit will participate in Agricultural Bank's restructuring by injecting capital into the bank. The size of the injection will depend on the audit report. Central bank governor Zhou Xiaochuan has said that Agricultural Bank's restructuring plan will be released soon. The bank, the weakest of the big four commercial banks, was established in 1979 to serve China's 800 mln farmers. http://www.gulf-daily-news.com/ 54 times read
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