Guangdong Fogang Rural Commercial Bank Co., Ltd

China
Asia Pacific

Industry:Banking
Date joined:9 May, 2022
Initiatives:Principles for Responsible Banking

Brief Overview of Organisation

Guangdong Fogang Rural Commercial Bank Co., Ltd is located in Fogang County, Qingyuan City, Guangdong Province, China, and it was founded in 1952. The Bank has always been positioned as an inclusive, rural and local bank, focusing on serving agriculture, rural areas, farmers, and small-micro enterprises, practicing Green finance and hard-working finance, and striving to build a “small but beautiful” national benchmark bank. The first is to fully support the development of key rural industries, support the construction of agricultural industrial parks, country houses, beautiful villages, and other projects, and actively promote the development of characteristic industries such as Figs, Lithocarpus pachylepis, and Queensland nuts, and help create a good rural environment that is ecologically livable and suitable for business. The second is to carry out the “Guangdong Rural Inclusive Financial System and Household Access” project and the whole village credit-granting work, connect with the government, the village communities, and the industry, and promote the growth of the government affairs, credit granting, credit business, wealth management, and sales. The project had covered 6 towns and 90 administrative villages (residential houses) in Fogang County, and a total of 222 financial commissioners have been dispatched to jointly promote rural revitalization, and urban-rural integration, and contribute to the high-quality development of the local economy. As of the end of 2021, the Bank’s total assets were US$2.055 billion, the balance of various deposits was US$1.499 billion, the balance of various loans was US$1.181 billion, and the non-performing loan ratio was 0.81%.

Summary of Sustainability Strategy

Guangdong Fogang Rural Commercial Bank intends to contribute to keeping the beautiful natural environment, to make a better community and a better world through sustainable finance.