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A Brief Introduction to Shanghai Pudong Development Bank
Shanghai Pudong Development Bank Co., Ltd. (SPD Bank) was founded on August 28, 1992 with the approval of the People’s Bank of China and has been operating since January 9, 1993. It is a nationwide joint-stock commercial bank that became listed in 1999 on the Shanghai Stock Exchange (Stock Code: 600000). Based in Shanghai, the Bank’s current registered capital stands at RMB 19.653 billion. As a listed entity, the Bank is highly regarded within China’s security market thanks to its outstanding performance record and business integrity.
By adhering to its core value of “holding to integrity and striving for excellence,” SPD Bank continues to expand its capital base and strengthen its business through financial innovation. By the end of September 2017, the Bank had total assets of RMB 6.06 trillion. Now, it operates a network of 41 branches and over 1,800 banking outlets inside and outside China, and the number of employees exceeds 52,000. In recent years, the Bank has accelerated its internationalization and integration. It has taken concrete steps to start global operations as seen by the establishment of Hong Kong Branch, Singapore Branch, London Representative Office and SPDB International Holdings Ltd. The establishment of SPD Rural Banks, SPDB Financial Leasing Co., Ltd. and SPD Silicon Valley Bank, including its acquisition of Shanghai International Trust Co., Ltd., are milestones on the Bank’s journey to becoming a financial group with comprehensive business operations.
Since its public listing on the stock market, SPD Bank has been ranked among the Top 100 Listed Companies in China by Asia Weekly for several consecutive years. In February 2017, the Bank ranked 18th on the Top 500 Banking Brands list released by the British magazine The Banker, and with a brand value of USD 11,963 million, it ranked 6th among Chinese banks. In May, it ranked 64th on the Forbes Global 2000 list, being 13th among Chinese companies and 9th among Chinese banks. In June, the British magazine The Banker released the ranking report of Top 1000 World Banks 2017, on which SPD Bank was ranked 27th in terms of Tier 1 capital and 8th among Chinese banks. In July, the Bank ranked 245th on the Fortune Global 500 list, being 54th among Chinese companies and 8th among Chinese banks, demonstrating its sound competitiveness. Furthermore, it is one of the few domestic joint-stock commercial banks rated as investment grade by each of the Big Three credit rating agencies. 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. All of the Bank’s rating outlooks are stable. These ratings reflect the Bank's consistent execution of its business strategy and solid financial performance over the past few years.
As a dedicated financial service provider, SPD Bank is also committed to corporate citizenship and fulfilling its social responsibility. In 2017, SPD Bank received several awards granted by the China Banking Association, such as “Excellent Charity Project of the Year,” “Best CSR Green Finance of the Year” and “Best Outlet for Special CSR Contribution of the Year.”
SPD Bank continues to drive its business innovation in response to changes in market conditions and opportunities. Setting out on a new journey, the Bank will hold fast to its faith in “innovative thinking and heartfelt service,” maneuver successfully through the rise and fall of the financial tides and comprehensively enhance its integrated financial service capabilities so that it may grow into a high-performance, full-service banking group.