Logo during the period of Guangdong Development Bank
China Guangfa Bank (simplified Chinese: 广发银行; traditional Chinese: 廣發銀行; pinyin: Guǎng Fā Yínháng, abbr: CGB) is a commercial banking corporation headquartered in Guangzhou, People's Republic of China. The bank was established in September 1988 as Guangdong Development Bank (simplified Chinese: 广东发展银行; traditional Chinese: 廣東發展銀行; pinyin: Guǎngdōng Fāzhǎn Yínháng),. As CGB's largest share holder, Citigroup has a 20% stake, while IBM holds 4.74%. China Life and State Grid each owns 20%, CITIC Trust, 12.85% and Puhua will hold the remaining 8% of the equity sold.
CGB offers a broad range of financial services including personal and corporate banking, asset management, wealth management, broker-dealer and advisory services, issuance services, and treasury services. It has more than 500 branches in mainland China, Hong Kong and Macau. 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.