Bank of Jiangsu

RATING

SECTOR

Banking

WEBSITE

CONTACT

Room 2003
55, Hongwu North Road
210005 Nanjing, China

Tel: +86 25 5289 0919
Fax: +41 31 734 43 79

STOCK EXCHANGE

LISTING

CSRHUB: 26 (low)

EMPLOYEES

15,298

DIRECTOR OF GREEN FINANCE

Shanning Dong

AWARDS

  • Tianji Award for Green Finance Banks
  • Award for Excellent Case for Precision Poverty Alleviation of China’s Listed Company

CONTENT SOURCE

FURTHER READING

Report created by Sonria Willis

Bank of Jiangsu

SECTIONS :  Sustainability Targets   Evaluation  •  Key Points  •  Overview

Company Activity

The Bank of Jiangsu is a China-based regional commercial bank. It operates through 539 branches, serving individuals, corporations, government agencies, and financial institutions. The company was founded in 2007 and is headquartered in Nanjing, China.

The bank is principally engaged in the provision of banking and related financial services. It mainly operates its businesses through personal banking business, corporate banking business, interbank financial business, network finance business, small and micro financial business, as well as credit card issuing.

Its personal banking business provides loan, deposit, investment and financing, as well as bank card business to individuals. Its corporate banking business provides deposit and lending services, wealth management services, as well as project finance financing services, among others to enterprises. 

The bank is also involved in the provision of electronic banking, internet banking, mobile phone banking and telephone banking services.

 

Company Sustainability Activity

The Bank of Jiangsu does not publish a CSR or Sustainability report but it does mention green financing and poverty alleviation schemes in its 2019 Annual Report. 

The group states it is continuously increasing support for sustainable manufacturing, green industries and other fields, and provides financing services for small, micro and private enterprises and is actively practicing the Equator Principles.

According to Global Capital, Bank of Jiangsu has published a ‘carbon neutrality action plan’, pledging to provide at least RMB 200 million in climate-related funding support and RMB 50 billion of financing to the clean energy industry, between 2021 and 2025.”

It aims to “help reduce carbon dioxide emissions by at least 10m tonnes during the period.”

 

Highlights

  • Balance of green credit was 86 billion yuan
  • Issued 10 billion yuan of green financial bonds
  • 2.47 bn in poverty alleviation funds

Targets

The bank does not disclose this information.

Progress

The bank does not disclose this  information.

Certificates

The bank does not disclose this information.

UN Sustainable Development Goals

UN SDGs Compliance

SDG 1: No Poverty

  • RMB 2.47 billion in poverty alleviation funds

SDG 12: Responsible Consumption and Production

  • Introducing green finance bonds
 

Evaluation

While its 2019 Annual Report mentions green finance schemes, the Bank of Jiangsu does not issue any CSR or ESG report. Hence, no thorough evaluation can be done on the bank with no relevant external source supporting or discrediting its sustainable activity.

Moreover, the bank is not mentioned in any notable sustainability listing besides CSRHUB in which the bank received a low score of 26.

Additionally, while it received the Tianji Award for Green Finance Banks and the Award for Excellent Case for Precision Poverty Alleviation of China’s Listed Company, the bank has not received any internationally recognized ESG award. Not surprisingly, the bank has no relevant certificates.

However, the bank does mention poverty alleviation and green financing schemes which align with SDGs 1 and 12. The bank has funded RMB 2.47 billion in poverty alleviation funds and is introducing green finance bonds.

Therefore, the bank has been rated a D.

Analyst Outlook: Neutral

With RMB 2.47 billion invested in poverty alleviation schemes and an 86 billion balance of green credit, and considering its partnerships with organizations like the Clean Development Mechanism Fund (see Key Points Section), the Bank of Jiangsu could have received a grade of C if it had more credible target and progress data.

However, with very few targets, progress and ESG data, the analyst outlook for the Bank of Jiangsu cannot be positive.

Key Points

 
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