About IB

Industrial Bank Donated RMB 1 million to Disaster-stricken Hainan and

Injected Credit Funds into Affected Small- and Mini-sized Enterprises

On July 24, at the Disaster Relief and Charity Gala for Hainan 7·18 Super Typhoon, Industrial Bank (IB) donated RMB 1 million to the disaster-stricken area for post-disaster reconstruction. Before the event, the bank has activated green channels for examination of loans applied by small- and mini-sized enterprises, and provided working capital for disaster-hit enterprises.

“The gale roars and rainstorm pours down, all like a disaster movie.” Huang Yuli, an employee of IB Haikou Branch still showed lingering fear when recalling the scene when the super typhoon “Rammasun” landed on the island. After Typhoon Rammasun, the most devastating one over the past 41 years, attacked Hainan on July 18, the scene of devastation could be seen everywhere and the number of people affected by the disaster hit 3.258 million. IB Haikou Branch, which had just been put into operation for only more than 3 months, was also hit hard by the typhoon, with smashed glass curtain wall scattering on the ground, water trapped indoors reaching knees. The branch had to suspend operation temporarily.

After the typhoon, IB Haikou Branch lost no time to organize rescue and self-relief. After restoring operation on July 20, employees also organized the activity of “Fight against Typhoon and Extend Hearts” voluntarily. Though their families and the branch both suffered considerable losses, they also made donations enthusiastically. Within a day, more than 110 employees donated RMB 60,000. Later on, the branch also donated RMB 1 million at the Disaster Relief and Charity Gala for Hainan 7·18 Super Typhoon for reconstruction of disaster-stricken areas.

While making donations, IB Haikou Branch also opened the green channels for examination of loans applied by small- and mini-sized enterprises, namely “fast examination, extension upon approval”, to support their post-disaster reconstruction and restoration of production and operation. A few days ago, Yangpu Solid Waste Treatment Co., Ltd. obtained the loan of RMB 6.4 million from IB.

As Hainan was heavily hit by the typhoon, a great number of enterprises were affected by it. In order to meet the pressing needs of affected enterprises, IB has also actively provided working capital to support them. For the post-disaster recovery and reconstruction projects for which the government would provide emergency disaster-relieving funds and financial subsidies and which were in compliance with the credit examination policies and procedure of the bank, the branch would grant supporting loans to such enterprises in the principle of one to one before the financial aids or subsidies were received.

For platform companies participating in the restoration and construction of facilities for water, electricity, transport and infrastructure, the branch also applied to the Head Office for special financing line with a view to providing credit support.

As learnt by the reporter, IB Haikou Branch has quickly got involved in the local economic and social development though it only settled in Hainan for 4 months. It has extended various loans totaling RMB 2.8 billion. Furthermore, it also exerted itself to perform social responsibility. It has donated the funds saved at the opening ceremony, RMB 400,000 to Tantian Primary School, Sanmenpo Town, Qiongshan District, Haikou, with a view to improving the teaching environment of the school.