NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, December 2, 2016

Zhongyuan Bank Co Ltd, a leading banking group in China, has signed an agreement with Grameen Trust for replicating Grameen Bank’s microcredit model on a large scale in China.

The agreement was signed at Yunus Centre in Dhaka on Thursday; Wang Jiong, president of Zhongyuan Bank,  led a four-member delegation to a meeting with Nobel laureate Muhammad Yunus.

Officially launched in 2014, the bank is formed through the merger of 13 commercial banks, Yunus Centre said in a statement.

The nationwide bank in China has 13,000 employees, and is headquartered in Zhengzhou, capital of Henan province, the heartland of China.