Xinhua Silk Road: S. China-located Guilin Bank sets up multi-tiered service network to boost rural vitalization

Wednesday 05 May 2021 13:30
Guilin Bank, a local bank situated in south China's Guangxi Zhuang Autonomous Region, incubated a multi-tiered service network characterized by widespread village-, town-, county- and city-level service units to head for a commercially sustainable path for boosting rural revitalization.
Xinhua Silk Road: S. China-located Guilin Bank sets up multi-tiered service network to boost rural vitalization

By the end of March, the lender has established 125 branches and sub-branches, 314 community and small- and micro-sized sub-branches, 4,094 rural inclusive finance service units, and six village banks in Guangxi.

Benefited from its broad and four-tiered service network coverage, villagers in the numerous localities in Guangxi now enjoy convenient financial services once only common to urban citizens, such as small sum cash withdrawal, money transfer, loan consulting, water and electricity fee payment, and social insurance and medical insurance fee payment.

As Wang Shuchu, chief operating officer of Guilin Bank introduced, villages are where the bank's rural vitalization work starts as these places usually lack financial services and setting up service sites in homes of competent villagers trusted by others can provide all day long service to all villagers.

Wu Dong, board chairman of Guilin Bank said that the bank is dedicated to financial services equalization and facilitation to bring more benefits to the vast rural areas in Guangxi.

Taking county areas as a vital access to benefit from local rural and urban integrated development, Guilin Bank cranked up its lending to entities in local counties to support overall industrial development, bring up local employment and village landscape improvement, and enable rural area reforms, agricultural modernization and rural construction.

Last year, the bank poured 48.9 percent of its newly-added loans for the county-level borrowers.

According to Wu Dong, nowadays, there is less and less room left for urban commercial banks to grow, but county areas are a blue sea with significant development potential. Rural vitalization means not only a mission of the era but also great opportunities for banks.

By the end of March, Guilin Bank and the village banks it established boasted assets totaling 391.9 billion yuan, making it the largest local legal person bank by assets size in Guangxi.

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Caption: Photo shows an employee of Guilin Bank explains the rural vitalization policies to a villager in rural area of Guangxi. (By Jiang Chen)



Source:  PRNewswire/InfoQuest