Hengfeng Bank

China
Asia Pacific

http://www.hfbank.com.cn/

Industry:Banking
Date joined:10 August, 2021
Initiatives:Principles for Responsible Banking

Brief Overview of Organisation

Hengfeng Bank is one of the 12 national joint-equity commercial banks in China. formerly known as Yantai Housing Savings Bank, which was established in 1987. It was constructed into Hengfeng Bank in 2003 and completed the market reform in 2019. Hengfeng Bank is headquartered in Jinan, Shandong Province, having 310 branches in total, among which there are 18 tier-one branches, 2 branches directly under Hengfeng Bank, and 5 rural banks. By the end of 2020, the total assets of the bank are 1,114.155 billion yuan, with a good momentum of business development and a steady improvement in operating efficiency.

In recent years, Hengfeng Bank has won many honors. For example, it ranked No. 131 in the “Top 500 Banking Brands 2018” published by the British magazine The Banker; ranked the 5th in the Asian banking industry as stated in the “Asian Banks Competitiveness Ranking Report” released by the Chinese University of Hong Kong; won the “Best Mobile Banking Award”, “Internet Financial Innovation Award” and “Best Financial Technology Innovation Application Award” in the e-Finance Innovation Awards held by China Internet Finance Union.

Over the years, Hengfeng Bank has been adhering to the values of “developing together with customers and growing together the employees”, and vigorously promoting the corporate culture of “sincerity, compliance, thrift, dedication, execution, and endeavor”. With the vision of “building a first-class digital agile bank” and the strategy of “strengthening the foundation, optimizing the main business, expanding retail finance, consolidating the local market, and reducing the cost”, Hengfeng Bank continuously strengthens the innovation of financial services, comprehensively improves the ability of governance and management, and makes great efforts to consolidate the customer-centered and employee-oriented foundations. With the mission of “serving a better life with sincerity and building a beautiful China with professionalism”, Hengfeng Bank strives to make greater contributions to economic and social development.

Summary of Sustainability Strategy

Hengfeng Bank aims at being an environmentally friendly bank, strengthening green governance, developing green finance, and actively carrying out green operations. Hengfeng Bank is going to adhere to the green financial development as a long-term strategy, improve the top-level design, increase financial support for energy conservation and environmental protection, clean production, green infrastructure upgrading and other projects, and effectively help achieve the goal of carbon neutralization. In the next five years, Hengfeng Bank will focus on seven key areas, including clean energy, green intelligent manufacturing, environmental protection and renovation, rural revitalization, green building, green transportation and carbon finance, and strive to provide enterprises and comprehensive services such as investment and financing, supply chain finance, retail products, think tank consultation. Hengfeng Bank plans to provide green finance special support of no less than 300 billion yuan within next five years, including the climate financing special support of no less than 200 billion yuan, which is expected to help reduce carbon emissions by more than 10 million tons.