Agricultural Bank of China (ABC) and Rabobank have signed a
Memorandum of Understanding (MOU) to establish a strategic
partnership to co-operate in various areas of business.
The MOU will seek to provide mutual assistance and sharing
of experience in wholesale banking, rural finance, asset management
and leasing, as well as exploring ways to unlock joint business
opportunities.
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The strategic partnership provides Rabobank with an
opportunity to strengthen its position in China. ABC also offers a
distribution platform for Rabobank’s various business
lines.
Sipko Schat, a member of Rabobank Nederland’s executive
board said: “The collaboration with Agricultural Bank of China
underscores our commitment to the Chinese market. The strategic
partnership enables Rabobank to leverage ABC’s extensive branch
network and reach out to a wider range of clients”
ABC, the last of China’s Big Four public sector banks to
float its shares, is pressing ahead with an initial public offering
in China and Hong Kong, expected to raise between $25bn and
$30bn.
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