Best private bank for innovation in technology 2017
China Guangfa Bank
China Guangfa Bank (CGB), formerly known as Guangdong Development Bank, has always been an innovator. One of the first mainland banks to secure investment from a big foreign competitor, it was an early devotee of the universal principles of data analysis, operational efficiencies and customer service.
CGB’s long-standing determination to be a first-class commercial bank has led it to invest heavily in information technology and to focus on providing lending services to small and medium-sized enterprises. At end-2015, CGB boasted total assets of Rmb2 trillion ($290 billion), with 40 branches nationwide.
But it is on the private banking side, where it offers high-end services to clients with at least Rmb6 million in net financial assets, that China Guangfa Bank has made great strides in recent years. It launched its full private banking services division in 2013, building on the knowledge accrued within its award-winning retail banking operations and providing customers with a full range of diversified financial products, transnational professional consulting and customised investment services.
CGB continues to innovate, investing in internal training and research and development, becoming one of the first mainland issuers of green bonds, and rolling out family trust products that aim to mitigate risk and boost returns on investment.