On June 16, Jiangsu Sub-division of the Private Banking Department of Agricultural Bank of China Limited (ABC) (601288.SH) formally opened. Mr. Li Yunfeng, Vice Governor of Jiangsu Province, Mr. Ren Wangquan, Deputy Secretary General of Jiangsu Provincial People's Government, Mr. Yang Kun, Executive Director and Vice President of ABC, Ms Li Qingping, Chief Director of Retail Business of ABC, and Mr. Li Zhicheng, General Manager of ABC Jiangsu Branch, attended the ceremony and inaugurated the sub-division. This marks that ABC has smoothly completed strategic setup of the first 12 private banking institutions.

ABC (601288.SH) Private Banking Department is an operating institution aiming at high-end customers, covering financial management, asset management and financial consulting. After over one year's preparations for the department and sub-divisions, ABC (601288.SH) has set up private banking sub-divisions in 11 provinces and municipalities including Beijing, Tianjin, Shanghai, Zhejiang and Guangdong since the department formally opened in 2010. The opening of Jiangsu Sub-division, the 12th of its kind, has initiated a new round of the establishment of private banking institutions. This year and next year, ABC will set up sub-divisions in Hebei and Sichuan etc., expand the services to 20 provinces and municipalities, and thus become the bank with the broadest coverage in terms of private banking.

ABC (601288.SH) attaches great importance to enhancing the service capacity of private banking while expanding the network coverage and building a sound service platform. In recent years, ABC has made active efforts to build a specialized private banking service team integrating wealth advisors at department and sub-divisions, customer managers of branches and sub-branches and experts across the Bank. It has offered high professional and customized services based on customer needs. Besides, it has established the private banking consulting and value-added service system jointly with non-financial institutions, and forged the strength to render tailor-made exclusive solutions to customers.

This February, ABC and CNYUAN, a think tank, have jointly published the 2011 Report on Global Wealth Allocation of Chinese Private Banking Customers, offering complete and professional reference for customers in asset allocation. In April, ABC joined hands with Bank of Montreal to launch the cross-border financial services under private banking to extend the service range to overseas territory. In the meanwhile, ABC (601288.SH) has elaborately built a range of high-end value-added services for private banking customers, held customer events in various forms, and opened the 40088-95599 private banking service hotline. It has also issued the exclusive diamond card to private banking customers, and further enhanced the quality of private banking services by innovating service contents and expanding service channels.

The opening of the Jiangsu Sub-division is a key step of ABC (601288.SH) towards the objective of building the first-class private banking in China. Relying on the unique operating advantages and sound service system, the sub-division will integrate internal and external resources and employ the specialized service team to deliver various financial and non-financial solutions and satisfy the thriving customer demand for private banking services.