Text |Observer Mission.
* |New Economy Observer Mission.
Recently, Shanghai Pudong Development Bank Co., Ltd. (hereinafter referred to as "Shanghai Pudong Development Bank") announced the "Announcement on the Issuance of Financial Bonds in the First Phase of 2024" (hereinafter referred to as the "Announcement").
According to the announcement, Shanghai Pudong Development Bank plans to issue the first phase of financial bonds in 2024, with a total planned issuance of 30 billion yuan, with a fixed interest rate, calculated annually, with a term of 3 years and a coupon rate of 235% with a value date of March 4, 2024.
According to the official website of Shanghai Pudong Development Bank, it is a national joint-stock commercial bank approved by the central bank on August 28, 1992, opened on January 9, 1993, and listed on the Shanghai Stock Exchange in 1999 (**transaction**: 600000), with its head office in Shanghai. At present, the registered capital is 2935.2 billion yuan.
As of the end of September 2023, SPD Bank's total assets exceeded 88 trillion yuan. At present, SPD Bank has set up 42 first-class branches and more than 1,700 business institutions at home and abroad, with more than 60,000 employees.
In terms of finance, the performance of Shanghai Pudong Development Bank entered a decline range. In the first three quarters of 2023, the bank achieved operating income of 1,3281.5 billion yuan, down 7 percent year-on-year56%；Net profit attributable to the parent company was 2798.6 billion yuan, down 30 percent year-on-year83%；Earnings per share were 088 yuan, and the weighted return on equity is 432%, down 237 percentage points.
In the third quarter of 2023, SPD Bank achieved an operating income of 4158.5 billion yuan, down 7 percent year-on-year66%；The net profit attributable to the parent company was 484.8 billion yuan, down 52 percent year-on-year88%。
In terms of personnel, SPD Bank has experienced frequent changes in senior management in recent years. On February 8, Shanghai Pudong Development Bank announced that the company recently received the "Reply of the State Financial Supervision and Administration on the Qualifications of Zhang Weizhong of Shanghai Pudong Development Bank", and the State Administration of Financial Supervision and Administration has approved the qualifications of Zhang Weizhong's director and chairman on February 7, 2024. According to the relevant regulations, Zhang Weizhong has been appointed as the director and chairman of the board of directors of the company since the date of regulatory approval.
On September 8, 2023, SPD Bank disclosed the announcement of the resignation of the chairman and president, and the board of directors received the resignation of Zheng Yang, chairman and executive director, and Pan Weidong, vice chairman, executive director and president on September 7. Due to work transfer, Zheng Yang resigned from the company's chairman, executive director and other positions, and Pan Weidong resigned from the company's vice chairman, executive director and president.
Subsequently, the board of directors of SPD Bank agreed to nominate Zhang Weizhong, Secretary of the Party Committee of the Company, and Zhao Wanbing, Deputy Secretary of the Party Committee, as candidates for the directors of the Company.
In terms of compliance, since the outbreak of the 77.5 billion yuan fraud case of the Chengdu branch in 2018, Shanghai Pudong Development Bank has frequently received fines. In 2023, SPD Bank and its branches were fined at least 15 times by the financial regulatory authorities, and after entering 2024, SPD Bank will continue to be a frequent financing.
On February 18, Shanghai Pudong Development Bank was administratively fined a total of 1.5 million yuan by the Beijing Supervision Bureau of the State Administration of Financial Supervision and Administration. The specific violations include: 1. There are major deficiencies in the risk management and control of cash clearing outsourcing; 2. Dereliction of duty in the supervision and inspection of cash clearing outsourcing activities; Thirdly, there was serious imprudent cash management activities.
On January 2, the Rizhao Branch of Shanghai Pudong Development Bank was administratively fined 300,000 yuan by the Rizhao Supervision Branch of the State Financial Supervision and Administration for failing to strictly implement the actual loan payment and serious violation of the prudential business rules; On the same day, Weihai Branch was administratively fined 700,000 yuan by the Weihai Supervision Branch of the State Administration of Financial Supervision and Administration for failing to strictly examine the authenticity of the background of domestic letter of credit business and bank acceptance bill business, and seriously violating the rules of prudent operation; On the same day, he was fined a total of 400,000 yuan by the Zhuhai Supervision Branch of the State Financial Supervision and Administration for seriously violating the rules of prudent operation in the loan business, and warned Zhu Lu, the person responsible.
On January 4, the Jiangyin Branch of Shanghai Pudong Development Bank was administratively fined 2 million yuan by the Wuxi Supervision Branch of the State Financial Supervision and Administration for a number of violations of laws and regulations, such as inadequate post-loan management and misappropriation of loan funds.
On January 5, the Urumqi branch of Shanghai Pudong Development Bank was administratively fined 1.25 million yuan by the Xinjiang Supervision Bureau of the State Administration of Financial Supervision and Administration for "failing to perform due diligence in pre-investment investigation and post-investment management, and illegal flow of wealth management funds into restricted areas".
Disclaimer: The publication of this article by the New Economy Observation Mission is for the purpose of conveying more information and does not constitute any advice. Original articles are not allowed without authorization**.