China Guangfa Bank

China Guangfa Bank is a commercial banking corporation headquartered in Guangzhou, People's Republic of China. The bank was established in September 1988 as Guangdong Development Bank. As CGB's largest shareholder, 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.