One of the biggest regional lenders in Guangdong province has just drawn strategic investment from a leading state-owned financial firm.
Guangdong Yuecai is set to become the main shareholder in Guangdong Nanyue Bank after making a strategic investment in the Zhanjiang-based lender.
Guangdong Nanyue Bank was founded in January 1998 in the Guangdong province city of Zhanjiang, and is one of the province’s five municipal commercial banks.
In 2020 Guangdong Nanyue Bank was ranked 425th on The Banker’s list of the world’s leading banks.
Guangdong Yuecai is a financial holding company under the direct aegis of the Guangdong province government that was first established in 1984.
Guangdong Yuecai is currently billed as a “comprehensive financial services system” whose operations encompass trust and wealth management, asset management, financial guarantees and fund investment, as well as financial leasing, cross-border finance and fintech.