As part of the reform, a new unit, covering its 2,048 county level outlets, was set up to specifically focus on rural finance.

By undertaking such a step, the bank planned to clearly demarcate the performance of its urban and rural businesses. It would also enable the bank to offer a clear book to investors on how much it has invested in agriculture-related businesses and the returns generated.

Xiang Junbo, chairman of the bank, said in a recent interview that the lender's listing timetable depends largely on the progress it makes in rural finance reform.

The chairman said apart from the reform, the bank would also strive to strengthen its business development in the nation's 50 major cities this year.

"We expect to achieve breakthroughs in our urban business this year and also change the impression that we lag others in key cities over the next three years," Xiang said.

Last year, the bank advanced 364.5 billion yuan in new loans to rural areas, accounting for about one third of the total new lending for the period.