Farmers Bank of China
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| Joint stock company | |
| Industry | Banking |
| Founded | 1933 in Hankou, R.O.C. |
| Headquarters | 85 Nan-King East Road, Section 2, Taipei, R.O.C. |
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Key people
|
Chen Zhong, Chairman |
| Products | Financial Services |
| Revenue |
 USD 430 million (2005) |
| Total assets |
USD 18.23 billion (2005) |
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Number of employees
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2,339 (2005) |
| Website | www |
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Footnotes / references Acquired by Taiwan Cooperative Bank in 2006 |
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The Farmers Bank of China (simplified Chinese: 中国农民银行; traditional Chinese: 中國農民銀行; pinyin: Zhōngguó nóngmín yínháng) was one of the largest banks in China and later in the Republic of China.
The Farmers Bank of China was founded on April 1, 1933, in Hankou from the amalgamation of provincial agricultural banks in Henan, Hubei, Anhui and Jiangxi. Governed by the Farmers Bank of China Law, the bank was established to stimulate agricultural development by providing lines of credit to farmers and rural landowners. The loans were intended for use to purchase equipment and crops. The bank was initially under majority government ownership.
The bank became one of the four major banks of the Republican period. Along with the Central Bank of China, Bank of China and Bank of Communications, the Farmers Bank of China was allowed to issue its own banknotes until 1942.
The bank was twice forced by war to relocate with the Kuomintang Central Government, first to Chongqing in 1937 and later to Taipei in 1949. However, it was not until 1967 that the bank resumed operations after relocating to Taiwan. The Government of the People's Republic of China incorporated the bank's Mainland assets into the People's Bank of China, but later transferred these to the Agricultural Bank of China.
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Wikipedia