A Brief Introduction to Shanghai Pudong Development Bank
https://eng.spdb.com.cn/about_us/201608/t20160825_311725.shtml
Shanghai Pudong Development Bank Co., Ltd. (abbreviated as “SPD Bank”), approved of establishment by the People’s Bank of China on August 28, 1992, opened business on January 9, 1993. As a nationwide joint-stock commercial bank based in Shanghai, it was listed on the Shanghai Stock Exchange in 1999 (Stock Code: 600000). Registered capital of the Bank stands at RMB 29.352 billion. With its outstanding performance record and reputed integrity, SPD Bank has become a highly regarded listed company in the securities market of China.
Being committed to its core value of “holding to integrity and striving for excellence”, SPD Bank has made relentless efforts in expanding its capital base and strengthening its business through financial innovation. As of the end of September 2022, the Bank’s total assets reached RMB 8.43 trillion. It has established 42 tier-one branches with more than1,700 outlets, including domestic branches covering all provincial regions of Chinese mainland, and overseas branches in Hong Kong SAR, Singapore and London. The number of staff has exceeded 60,000. So far, SPD Bank has developed an operation and service pattern that fits its positioning as a national and international commercial bank. In recent years, it has steadily advanced its group-based development and built an integrated operation pattern covering such business areas as trust, wealth management, asset management, financial leasing, overseas investment banking, rural banks, and money brokerage. The Bank established SPDB Foundation in 2022, in an effort to better implement corporate social responsibilities.
In February 2022, the Bank ranked 19th on The Banker’s list of Top 500 Banking Brands, with a brand value of USD 14,313 million, being 8th among the Chinese banks on the list. In May 2022, the Bank ranked 108th on the Forbes’ Global 2000 list, being 20th among Chinese companies and 9th among Chinese banks. In July 2022, according to The Banker’s Top 1000 World Banks, SPD Bank was ranked 18th in terms of tier 1 capital and 9th among Chinese banks. In August 2022, the Bank ranked 226 th on the Fortune’s Global 500 list, being 8th among Chinese banks, demonstrating its sound competitiveness. Furthermore, it is one of a few domestic joint-stock commercial banks rated above investment grade by each of the three renowned credit rating agencies. Specifically, Fitch Ratings upgraded SPD Bank’s long-term issuer default rating to BBB. Standard & Poor's Ratings Services affirmed its issuer credit ratings of BBB (long-term) and A-2 (short-term). Moody's Investors Service assigned deposit ratings of Baa2 (long-term) and Prime-2 (short-term) to the Bank. The Bank’s outlook rated by all these rating agencies is stable. These ratings reflect the Bank's consistent execution of its business strategy and solid financial performance over the years.
As a dedicated financial service provider, SPD Bank is also committed to fulfilling its social responsibility to be an outstanding corporate citizen. In 2019, SPD Bank received “Best Contribution Award for Targeted Poverty Alleviation” and “Best Outlet Award for Special CSR Contribution” granted by the China Banking Association. In 2018 and 2020, it was given “Best Green Finance Award” and “Best Green Finance Achievement Award” by the China Banking Association.
In the new round of development, SPD Bank will fully implement the decisions and arrangements of the CPC Central Committee and the State Council and the requirements of regulatory authorities. Following the overall arrangements in the reform of state-owned assets and state-owned enterprises in Shanghai, SPD Bank will develop itself into a first-class joint-stock commercial bank with international competitiveness in all respects and make itself a pacesetter and pioneer of the high-quality financial development in the new era. It will continuously enhance its business capacity and quality, in a bid to better serve the national strategy, the real economy and the major tasks of Shanghai, and to meet the people’s expectation for a better life.