China Guangfa Bank

RATING

SECTOR

Banking

WEBSITE

CONTACT

29F, Guangfa Building, No. 713, Dongfengdong Road,
Yuexiu District, Guangzhou, Guangdong, China

Phone: +86 20 38322888
Fax: 8620-8731-1722

STOCK EXCHANGE

N/A

LISTING

  • World Best Banks 2019

EMPLOYEES

This information is not published by China Guangfa Bank.

CHIEF SUSTAINABILITY OFFICER

No CSO or related position found.

AWARDS

  • China’s Best Productivity, Efficiency and Automation Award by The Asian Banker
  • China’s Annual Operational Risk Technology Implementation Award by the Asian Banker
  • Best Liquidity and Investment Solution Award by The Asset
  • Best Mobile Banking Program Award by The Asset
  • No. 1 of “Best Investment Institution” in the banking sector in China by The Asset
  • Second Prize of Annual Bank Science and Technology Development Award by People’s Bank of China 
  • Second Prize of “Working with Poverty Alleviation” Financial Story Short Video Competition by People’s Bank of China
  • Best Targeted Poverty Alleviation Contribution Award by China Banking Association
  • Advanced Units for Overall Evaluation of Green Banks by China Banking Association
  • Excellent Cases of Micro, Small and Medium-sized Enterprises in Financial Services Good News of China’s Banking Industry by China Banking Association
  • Excellent Bank Dealers by Shanghai Commercial Paper Exchange Corporation Ltd
  • Excellent Discount Institutions by Shanghai Commercial Paper Exchange Corporation Ltd
  • Excellent Member Units by Shanghai Commercial Paper Exchange Corporation Ltd
  • National Advanced Collective of Internal Audit by National Audit Office, China Institute of Internal Audit
  • China’s 500 Most Valuable Brands by World Brand Lab
  • Innovation Awards for Top Ten Small and Micro Enterprises of Financial Service by Banker
  • Excellence Award for Annual Asset Management by Shanghai Securities News
  • Excellence Award for Annual Fixed Income Wealth Management Products by Shanghai Securities News
  • Annual Inclusive Finance Outstanding Contribution Award by National Business Daily
  • Annual Outstanding Credit Card Award by National Business Daily
  • 2020 Brand Construction Bank by 21st Century Business Herald
  • 2020 Most Popular Wealth Management Products by 21st Century Business Herald
  • 2020 Excellent Mobile Banking APP by 21st Century Business Herald
  • Annual Innovative Brand Communication Case by China Banking and Insurance News
  • Annual Excellent Communication Case against COVID-19 by China Banking and Insurance News
  • Gold Award for Integrated Intelligent Platform by China Electronic Bank Joint Publicity Year
  • Excellent Cases of National Industrial Poverty Alleviation by People.cn
  • Targeted Poverty Alleviation Pioneer Organization by China.org.cn
  • Special Financial Poverty Alleviation by China.org.cn
  • Product of “Poverty Alleviation Loan” by China.org.cn
  • Annual FInancial Institution Poverty by Hexun.com
  • Alleviation Pioneer Award by Hexun.com
  • Annual Word of Mouth Credit Card by Hexun.com
  • Annual Outstanding Mobile Bankingby Hexun.com
  • Outstanding National Commercial Bank Award by JRJ.com
  • Outstanding Asset Custody Bank Award by JRJ.com
  • Outstanding Inclusive Finance Award Outstanding Mobile Banking APP Awardby JRJ.com
  • China’s Top 30 Best Employers in 2020 by Zhaopin.com 
  • The Most Concerned Employers by Women by Zhaopin.com
  • Gold Award for Illustration in Financial Asset Management by International ARC Awards

CONTENT SOURCE

FURTHER READING

No further sustainability-related articles found.

Report created by Ellie Weiss

China Guangfa Bank

SECTIONS :  Sustainability Targets    Evaluation  •  Key Points  •  Overview

Company Activity

China Guangfa Bank is a commercial banking corporation based in Guangzhou, the People’s Republic of China. 

It was established in 1988 as Guangdong Development Bank. It has more than 500 branches in mainland China, Hong Kong, and Macau. The bank has sectors covering personal and corporate banking, asset management, wealth management, broker-dealer and advisory services, issuance services, and treasury services. 

Company Sustainability Activity

To support the country’s development, the bank promotes the implementation of key projects and the development of the real economy with high-quality financial services. 

They focus on the economic construction of the country and increase service support for the real economy by promoting the transformation of the net value of asset business produces through financial services such as epidemic prevention and control bonds, issuance of anti-pandemic certificates of deposit, distribution of local government bonds, investment in credit bonds, and interbank financing. 

With small and microloan products and consumer credit products, the bank supports inclusive banking by meeting people’s livelihood financial needs and boosting consumption growth. 

The bank provided financial services to support pandemic prevention and control and helped win the campaign against COVID-19. They promoted “contactless” services, opened up green channels for financial services, gave priority for credit examination and interest rate discounts, increased credit support for medical institutions and medical device manufacturers related to COVID-19 prevention and control, and fully guaranteed the demand for financial services related to epidemic prevention. 

The bank also reduced fees and interests to relieve pressure as well as providing emergency support. They donated RMB 35 million and organized voluntary donations of RMB 3,637,100 to the frontline of epidemic prevention. 

The Bank implemented the decision of the CPC Central Committee for poverty alleviation along with multiple poverty alleviation acts to support poverty alleviation. The bank helped 74 areas listed among the poverty-stricken villages in the Liangshan Prefecture to allow 5,360 households and 14,682 individuals to pass the acceptance check of poverty alleviation by the local government. 

Focusing on green finance, the Bank implemented requirements for their rural revitalization strategy, practiced the concept of green development, supported the construction of ecological civilization, and guided funds to invest in green finance through policy support. 

They continued to raise awareness of green development and further innovation of green financial products. They also raise awareness of green finance for the public by encouraging mobile banking as well as raising their employee’s awareness of environmental protection. In the workplace, they now have paperless offices, electronic billing, telephone and video conferences, and water and electricity conservation. 

The bank carries out charitable activities through their Hope Charity Foundation. They carried out a “Charity Tour to China” and participated in projects such as the CGB Hope Award Scholarship, congenital heart disease relief, and contributed to public welfare charity

With the China Youth Development Foundation, they launched the public welfare project of “Caring for Teenagers Trapped by the Epidemic” as well as initiating diversified fund-raising. During the pandemic, they raised RMB700,000 to help 140 students continue their studies.

Highlights

  • Serving the national strategy and boosting the real economy 
  • Developing inclusive finance and supporting people’s livelihood projects
  • Winning the campaign of epidemic prevention and control and helping resume work and production
  • Adhering to precise strategies and engaging in poverty alleviation 
  • Developing green finance and boosting green economy 
  • Carrying our charitable activities and devoting to public welfare undertakings

Targets

This company does not disclose this information.

Progress

  • At the end of the reporting period, the corporate loan balance in key strategic regions increased by 31.87% compared with the beginning of the year 
  • As of the end of the reporting period, the loan balance of inclusive small and micro enterprises was RMB 128.469 billion, an increase of 33.10% over the beginning of the year
  • The balance of inclusive agriculture-related loans was RMB 13.164 billion, an increase of 86.30%
  • The balance of financial targeted poverty alleviation loans was RMB 14.107 billion, an increase of 19.01%
  • The balance of loans in inclusive finance was RMB 118.405 billion, an increase of RMB 30.474 billion over 
  • At the end of the reporting period, the Bank’s balance of green credit was RMB30.032 billion, an increase of 46.39% over the beginning of the year 
  • The bank’s Hope Charity Foundation invested RMB 7,418,500 in 2020, up by 42.76% year on year

Certificates

China Guangfa Bank has no sustainability-related certificates.

UN Sustainable Development Goals

UN SDGs Compliance

China Guangfa Bank does not clearly align with specific Sustainable Development Goals. Therefore, the Impakter Index team aligns current company-wide sustainability initiatives with the UN Sustainable Development Goals in the following section.

SDG 1: No Poverty

  • The bank helped 74 areas listed among the poverty-stricken villages in the Liangshan Prefecture to allow 5,360 households and 14,682 individuals to pass the acceptance check of poverty alleviation by the local government. 

SDG 4: Quality Education

  • During the pandemic, their Hope Charity Foundation raised RMB 700,000 to help 140 students continue their studies.

SDG 8: Decent Work and Economic Growth

  • Focusing on green finance, the Bank implemented requirements for their rural revitalization strategy, practiced the concept of green development, supported the construction of ecological civilization, and guided funds to invest in green finance through policy support
  • To support the country’s development, the bank promotes the implementation of key projects and the development of the real economy with high-quality financial services. 

SDG 9: Industry, Innovation and Infrastructure

  • The bank raises awareness of green development and furthers innovation of green financial products.
  • They focus on the economic construction of the country and increase service support for the real economy by promoting the transformation of the net value of asset business produces through financial services such as epidemic prevention and control bonds, issuance of anti-pandemic certificates of deposit, distribution of local government bonds, investment in credit bonds, and interbank financing

SDG 10: Reduced Inequalities

  • With small and microloan products and consumer credit products, the bank supports inclusive banking by meeting people’s livelihood financial needs and boosting consumption growth. 

SDG 13: Climate Action

  • The bank raises awareness of green development and further innovation of green financial products. They also raise awareness of green finance for the public by encouraging mobile banking as well as raising their employee’s awareness of environmental protection. 

SDG 16: Peace, Justice and Strong Institutions

  • The bank provided financial services to support pandemic prevention and control and helped win the campaign against COVID-19. They donated RMB 35 million and organized voluntary donations of RMB 3,637,100 to the frontline of epidemic prevention. 

SDG 17: Partnerships for the Goals

  • With the China Youth Development Foundation, they launched the public welfare project of “Caring for Teenagers Trapped by the Epidemic” as well as initiating diversified fund-raising. During the pandemic, they raised RMB 700,000 to help 140 students continue their studies.
 

Evaluation

China Gunagfa Bank has made many efforts to support their surrounding community and economy, especially taking focus on reducing poverty. 

They have made donations to multiple charities and have their own charity foundation, which showed strength in supporting those that were heavily affected by the pandemic. In terms of environmental focus they do a lot with green financing and online banking, however, that is as far as they go in that area of sustainability. 

They have some progress that relates to supporting the economy, green finance, and reducing poverty, but they have not reported any improvement in their own impact on the environment. Their annual report is extensive yet it lists no efforts to be more environmentally conscious or any targets to work towards. It also does not line up any of their work with the UN SDGs

The bank has extensive awards but appears to have no certification or recent listings, showing a lack of credibility. In addition, their list of executives and board members shows no positions relating to sustainability. 

Therefore, the bank has been rated a D.

Analyst Outlook: Neutral

The bank does not report any specific targets. Nor does it hold any green certificates but it holds many awards, some of which are related to the social and economic aspects of sustainable development. 

Key Points

  • Many projects supporting the economy and efforts to reduce poverty
  • Encourage innovation and awareness of inclusive and green financing
  • Lots of awards, but lack certifications and listings
  • Do not line up their projects with the UN SDGs
  • Lack of focus on the environment overall 
  • No Chief Sustainability Officer or related position
  • No reference to future targets
  • Some progress over the years in increasing donations and economic support, but none relating to their environmental impact
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