Giant AgBank sets up shop Down Under

Agricultural Bank of China, one of China’s biggest lenders, has been granted a banking licence by Australian regulators.

Agricultural Bank of China, one of China’s biggest lenders, has been granted a banking licence by Australian regulators, as Asian banks ramp up their operations in the fiercely competitive market.

AgBank, one of the world’s largest banks by market value, will today officially launch a “branch” in Sydney after being approved as a foreign authorised deposit-taking institution by the Australian Prudential Regulation Authority.

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