BRANCH BANKING | Staff Reporter, China

Chinese bank branches hit 228,600 in 2018

Around 5,600 branches were set up in far-flung communities.

Chinese banks remain undeterred in beefing up their branch networks as the number of branches hit 228,600 by the end of 2018, according to a report from Xinhua citing a report from the China Banking Association.

Also read: Which ASEAN country has the largest branch network?

Additionally, Chinese banks launched a total of 1.03 million automatic teller machines, which had handled transactions worth $9.59t (CNY66t). 

A total of 5,600 branches had been set up in communities alone in 2018 whilst around 8,006 branches were renovated.

China holds the distinction as the country with the world's largest unbanked population with 225 million adults without an account, according to a 2017 report from the World Bank. Together with India (190 million), Pakistan (100 million), and Indonesia (95 million) and Nigeria, Mexico, and Bangladesh, the seven economies account for nearly half the world’s unbanked population.

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