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A nationwide commercial bank with a registered capital of RMB 3.915 billion yuan, Shanghai Pudong Development Bank Co., Ltd (hereafter referred to as SPDB for short) was established in October 1992, officially opened in January 1993 and listed in the Shanghai Stock Exchange in November 1999.
A new joint-stock commercial bank incorporated during the new round of reform and opening-up in Shanghai, SPDB has always endeavored to build up and continuously improve its business operation and management mechanism and developed internal control system and management systems with its own characteristics. It carries out businesses according to relevant laws and regulations, standardizes operations and control mechanism and mitigates financial risks. By the end of 2007, SPDB has set up 408 branches in 49 cities, its total assets reached RMB 914.9 billion, the outstanding balance of all deposits stood at RMB 763.4 billion, and outstanding loans, at RMB 550.9 billion. Its after-tax profits totaled RMB 5.49 billion.
SPDB was cited by British Banker Magazine as No. 191 among the Top 1,000 World Banks based on core capital(July 2007). The bank also gained the honor as one of the top 10 listed companies of worth-investing and top 10 listed companies with best share reform through a creditability poll co-conducted by “Public Security News” and Sina Finance. In March 2007, the company was awarded as one of the Top 50 Worth-investing Listed Companies at the annual conference to Chinese stock investors. In July 2007, the company was cited by China Securities Journal as No. 10 of the Top 100 Chinese Listed Companies in terms of market value.
With the speed-up of China’s reform and opening-up, a new development trend and market competition pattern are taking shape in the financial market and banking system. SPDB will carry out its business operation and management according to international common practice and general guideline, build up and improve its core competence towards financial globalization by way of mechanism and system innovation so as to build itself into a leading commercial bank according to international standards.