Guangdong Development Bank
- Guangdong Development Bank
Infobox Company
company_name = Guangdong Development Bank
company_
company_type = Joint stock company
company_slogan =
foundation = 1988
location = Guangzhou, Guangdong, People's Republic of China
key_people =
num_employees = n/a
industry = Banking, Finance
products = Financial Services
revenue = n/a
net_income = n/a
homepage = [http://www.gdb.com.cn www.gdb.com.cn]
Guangdong Development Bank (zh-stp|s=广东发展银行|t=廣東發展銀行|p=Guǎngdōng Fāzhǎn Yínháng, abbreviated: 广发行) is a bank based in Guangzhou, Guangdong in People's Republic of China. The bank was established in September 1988 as a joint stock commercial bank.
Guangdong Development Bank is a mid-size national bank with more than 500 branches in China. Based in the Guangdong province bordering Hong Kong, GDB has assets of $47.9 billion, 12 million consumer customers, 9 million bank cardholders, 16,000 small and medium-sized business customers and 12,474 employees. Its problems seem to lie in weak capitalization and a history of bad loans.
Citigroup has a 20% stake, while IBM holds 4.74%, keeping the two American companies below the 25% threshold for overall foreign ownership. China Life and State Grid each owns 20%, CITIC Trust, 12.85% and Puhua will hold the remaining 8% of the equity sold. [ [http://www.forbes.com/2006/11/16/citigroup-guangdong-china-markets-emerge-cx_jc_1116markets06.html Forbes] retrieved at 11 Am, Dec 1st, 2006.]
References
External links
*zh icon [http://ebank.gdb.com.cn/comminfo/index.jsp Guangdong Development Bank's official homepage]
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