Yangquan Rural Commercial Bank opened in Yangquan city on Dec 16, according to local officials

With Yangquan Suburban and Rural Credit Cooperative as its predecessor, Yangquan Rural Commercial Bank has been served many local companies and contributed to the agricultural and rural development in Yangquan over the years, officials said.

Currently, the bank has registered capital of 1.9 billion yuan ($271.49 million) and has one business department, eight branches, 43 agencies, and 15 savings offices. It serves 700,000 local people and its asset scale exceeds 20.6 billion yuan.

It became the first rural credit institution in Shanxi province to be restructured with the largest share capital. 

Yangquan Rural Commercial Bank plans to further serve small and micro-sized enterprises and private companies -- to meet the diversified financial needs of people in rural and suburban Yangquan.

A bonus program for excellent grassroots teachers was launched by the bank, the Yangquan Daily, the Yangquan education bureau and Yangquan Radio and TV Station at the opening ceremony of the bank.