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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 29.352 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 2019, the Bank had total assets of RMB 6.79 trillion. Now, it operates a network of 41 branches and approximately 1,700 banking outlets inside and outside China, and the number of employees exceeds 50,000. In recent years, the Bank has accelerated its internationalization and integration. It has been continuously expediting globalization as seen by the establishment of Hong Kong Branch, Singapore Branch, London Branch and SPDB International Holdings Ltd. The establishments of SPD Rural Banks, SPDB Financial Leasing Co., Ltd. and SPD Silicon Valley Bank, and 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 January 2019, the Bank ranked 18th on the Top 500 Banking Brands list released by the British magazine The Banker, with a brand value of USD 13,252 million, being 7th among Chinese banks. In June, the Bank ranked 65th on the Forbes Global 2000 list, being 13th among Chinese companies and 9th among Chinese banks. In July, the British magazine The Banker released the ranking report of Top 1000 World Banks 2019, on which SPD Bank was ranked 24th in terms of Tier 1 capital and 9th among Chinese banks. In the same month, the Bank ranked 216th on the Fortune Global 500 list, being 56th among Chinese companies and 8th among Chinese commercial banks, demonstrating its sound competitiveness. Furthermore, it is one of the few domestic joint-stock commercial banks rated above 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 2018, 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 2017, the Bank was given “Best Green Finance Award” by the China Banking Association.
In the new round of development, SPD Bank will fully implement the spirit of the 19th CPC National Congress, the National Financial Work Conference and the Central Economic Work Conference. It will continuously push forward reform and development through the rise and fall of the financial tides. Committed to customer centricity, and driven by science and technology, SPD Bank will build itself into a first-class bank operated as a digital ecology, and become a vanguard in the financial sector in the new era of high-quality development.