Is Deutsche Bank a private bank?

Not a private bank, Suntech Rural Bank is a joint-stock commercial bank, with Zhejiang Deqing Rural Commercial Bank Co., Ltd. as the main sponsor and a number of local enterprises and natural persons.

The business scope of Suntech Village Bank includes: absorbing public deposits; Issue short-,medium-and long-term loans; Handle domestic settlement; Handle bill acceptance and discount; Engage in interbank lending; Engaged in debit card business; Acting as an agent to issue, honor and underwrite government bonds; Acting for collection and payment; The above business does not include foreign exchange business; Other businesses approved by the banking regulatory agency.

The so-called village bank refers to a banking financial institution established in rural areas with the approval of the China Banking Regulatory Commission in accordance with relevant laws and regulations and funded by domestic and foreign financial institutions, domestic non-financial institutions, corporate legal persons and domestic natural persons. It mainly provides financial services for local farmers, agriculture and rural economic development, and plays a great role in promoting the work of agriculture, rural areas and farmers.

Village banks are not private banks. They are initiated and controlled by large commercial banks and supervised by China Banking Regulatory Commission and China People's Bank. If there is a liquidity problem and it is impossible to pay the depositor's deposit, the sponsor will pay the depositor's deposit for withdrawal or the deposit insurance institution will pay for it.