Business Path
Shenzhen Development Bank Co., Ltd. (abbreviation: Shenzhen
Development Bank, stock abbreviation: Shenzhen Development A, stock code:
000001) is the first commercial bank in China to publicly issue shares to the
public and listed. Its predecessor was from Shenzhen in 1987. The “Shenzhen
Joint Credit Bank”, which was jointly established by the Rural Agricultural
Credit Cooperative was later renamed “Shenzhen Development Bank”, referred to
as Shenzhen Development. SDB developed its initial public offering of RMB
common stock in May 1987 and was formally established on December 22, 1987,
with its headquarters in Shenzhen.
As the first listed company in Shenzhen and the earliest
joint-stock bank in China, SDB has been the darling of the financial industry
in the 1990s. After more than 20 years of rapid development, Shenzhen
Development Bank has become more and more comprehensive and has become a
nationwide establishment of about 300 branches in 22 economically developed
cities including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Wuhan, and
Zhengzhou. Sex commercial banks set up representative offices in Beijing and
Hong Kong and established agency relationships with more than 600 banks in many
countries and regions.
In 2004, SDB successfully introduced international
strategic investor, Newbridge Asia AIV III (L.P.), and became the first
Chinese-owned joint-stock commercial bank with foreign capital as the largest
shareholder. Adhering to the "professional, innovative" customer
service concept, SDB has effectively combined international advanced management
technology and local experience and has made great progress in various fields
such as business philosophy, risk management, financial management, and market
development.
Shenzhen Development Bank's business continued to grow healthily and its performance was good. As of the first half of 2011,
The total assets of SDB reached RMB 852.1 billion, the total
loan was RMB 448.5 billion, and the total deposit was RMB 632.5 billion. In the
first half of 2011, SDB achieved a net profit of 4.732 billion yuan, and the
weighted annualized average return on net assets reached 24.74%. The asset
quality remained at a good level. As of June 30, 2011, the Bank's
non-performing loan ratio was only 0.44%, the provision coverage ratio was
380%, and the capital adequacy ratio and core capital adequacy ratio were
10.58% and 7.01%, respectively.
Facing the ever-changing business environment, SDB actively
responded with excellent adaptability, solidly promoted various reforms,
steadily implemented its development strategy, and continued to increase
investment in core business areas including supply chain finance and retail
business to further strengthen competition. Advantage.
In terms of corporate business, SDB has established a
development strategy of “oriented to small and medium-sized enterprises, facing
trade finance”, and has taken the lead in launching a comprehensive credit
model around the core enterprises and developing upstream and downstream
enterprises – “supply chain finance”, and remains at home. The leading edge of
the industry, the brand value continues to improve. At the same time,
international business and offshore businesses developed steadily. As the first
a commercial bank in China to obtain the qualification of the offshore banking
business, SDB has built a time-space and all-around banking service system for
corporate customers.
Since the retail business was the direction of strategic
transformation in 2005, SDB has adhered to customer-centric, continuous
the innovation of products and services, and built a retail banking product and
service system. The professional wealth management brand “Tianyi Fortune” for
medium and high-end customers continue to improve their product and service
capabilities and gain more customer recognition. The credit card business
continued to promote the core value orientation of environmental protection and
fashion; faced with the intensive introduction of real estate control policies
and increased market volatility, the personal loan business continued to adjust
its structure, increase the proportion of high-yield business, and actively
expand personal business loans and auto loans. And unsecured loans, etc.
The inter-bank business has cooperated with small and
medium-sized financial institutions in various fields and has obtained a number
of new business qualifications, and the financial product chain has been
further extended. At the same time, we will grasp the staged profit
opportunities in the domestic market and achieve rapid development, and the
The market share of the industry will increase steadily.
SDB has taken the lead in establishing a vertical management
system for accounting, credit, and auditing in China, and actively introduced
human resource management methods in modern enterprises. Under the promotion of
a series of reform measures, SDB has continuously improved its corporate
governance structure enhanced its ability to make scientific decisions,
comprehensively strengthened risk control, significantly improved asset
quality, and significantly enhanced its capital strength.
Through the development of business and management, SDB
continuously enhances its corporate brand image and actively fulfills its
social responsibilities. Over the years, SDB has actively implemented and
implemented the values and codes of conduct for corporate social
responsibility, adhered to the integrity and compliance management, safeguarded
the interests of customers provided high-quality financial products and
services to the society safeguarded the legitimate rights and interests of
employees, and paid attention to environmental protection keen on public
welfare, and giving back to society.
In 2010, SDB won the honors of “Best Honored Bank”, “Best
Corporate Social Responsibility Award”, “Most Strong Profit Bank”, “Best Retail
Bank” and “China's Best Supply Chain Financial Service Provider”. 15 outlets
such as the Head Office Sales Department and Shenzhen Jiangsu Building
Sub-branch was awarded the title of “China's Banking Civilization Standard
Service 1000 Best Model Unit”.
The future Shenzhen Development Bank will continue to carry
forward the spirit of team professionalism and innovation, adhering to the
purpose of creating returns for shareholders, adding value to customers and
bringing development to employees, striving to improve profitability and
service level, forge ahead, innovate and further Create core competitiveness
and make unremitting efforts for modern commercial banks that comprehensively
build international standards.
With its continuous innovation capability, Shenzhen
Development Bank has achieved rapid development in its various businesses: net
profit of 1.303 billion yuan in 2006, an increase of 319% over the previous
year; net profit of 2.65 billion yuan in 2007, an increase of 103 over the
previous year. %; net profit for 2008 decreased to 614 million yuan, down 77%
from the same period of last year; SDB said that the company's new provision
for the fourth quarter of 2007 was about 5.6 billion yuan, with a write-off of
about 9.4 billion yuan. All losses and doubtful non-performing loans, as well
as a large portion of sub-prime loans, were written off. The vast majority of
the write-off loans were historical non-performing loans issued before 2005.
SDB expects the balance of non-performing loans on December 31, 2008, to be
approximately 1.9 billion yuan, accounting for less than 1% of the total loan
the amount, and 2008. 4.3% on September 30 and 5.6% of the non-performing loan
the ratio on December 31, 2007, "but this large provision makes the SDB portfolio
the healthiest level in history."
Shenzhen Development Bank becomes history
In 2009, the company achieved a net profit of 5.031 billion
yuan, an increase of 719% over the previous year, and earnings per share were
1.62 yuan.
SDB ranked 231th in the top 1000 global banks announced by
the British Banker magazine in 2010, up 49 from 2009, and ranked 16th among
domestic banks. In 2010, SDB established 303 branch outlets in 20 economically
developed cities in China, and established representative offices in Beijing
and Hong Kong, and established agency relationships with more than 600 overseas
banks.
Consolidation
In May 2010, China Ping An Insurance (Group) Co., Ltd.
issued a total of 299 million H shares to SDB’s major shareholder: Xinqiao
Group, and transferred 520 million shares of SDB’s SDB. After the transaction
was completed, Ping An Insurance Group held 16.76% of the shares in Shenzhen
Development.
In June 2010, Ping An Life spent 6.939 billion yuan to subscribe
for 375.58 million shares of SDB's non-public offering at a price of 18.26 yuan
per share. The price per share was 18.26 yuan. After the completion of the
subscription, Ping An Insurance held 29.99% of SDB.
In September 2010, Ping An Insurance announced that it will
subscribe for 1.339 billion shares of SDB's non-public offering at a price of
17.75 yuan/share with 90.75% shares held by Shenzhen Ping An Bank and 2.692
billion yuan in cash. Holding 52.38% shares (2.684 billion shares) of Shenzhen
Development Bank, according to the closing price of 15.16 yuan/share on August
1, 2012, the corresponding market value is 40.689 billion yuan and Shenzhen
Development Bank holds 90.75% shares of Ping An Bank.
In August 2011, SDB intends to raise more than 20 billion
yuan from China Ping An. After the transaction is completed, Ping An Group's
shareholding in Shenzhen Development will reach 61.36%.
On January 19, 2012, Shenzhen Development Bank issued a
notice saying that SDB and Ping An Bank's board of directors reviewed and
approved the two-line merger plan. SDB absorbed the merger of Ping An Bank and
changed its name to Ping An Bank. The SDB announcement stated that after the
completion of the merger, the original “Ping An Bank” will be merged into
“Shenzhen Development”. The original “Ping An Bank” will be canceled and will
no longer exist as a legal entity. The company's Chinese name was changed from
“Shenzhen Development Bank Co., Ltd.” to “Ping An Bank Co., Ltd.”.
On the evening of July 25, 2012, the Shenzhen Development
Bank announced that it had received the “Reply from the China Banking
Regulatory Commission on the Renaming of Shenzhen Development Bank” (Yin Jian
Fu [2012] No. 397). The China Banking Regulatory Commission agreed that
Shenzhen Development Bank Co., Ltd. changed its name to “Ping An Bank Co.,
Ltd.” and the English name was changed to “Ping An Bank Co., Ltd.”. Ping An
Bank has been canceled in June 2012 and SDB will become the new “Ping An Bank”.
The name change is still subject to the name change registration procedure of
the industrial and commercial registration authority. It is reported that the
stock number of 000001 will remain unchanged.
Although the name change will be completed soon, it will
take some time for the two lines to eventually integrate. Richard Jackson, the
the current president of SDB said that the final integration of the two lines of
IT core systems will not be completed until October 2012; and the integration
of all work 100% completion time will be in the first quarter of 2013.
On the evening of August 1, 2012, SDB announced that the
bank’s securities abbreviation was officially changed to “Ping An Bank”
today...
On August 2, 2012, the conference room on the 32nd floor of
Shenzhen Development Bank Building, Shennan Zhong Road, Shenzhen, former
chairman of Shenzhen Development Bank, Xiao Yining, and Shenzhen Ping An Bank
President Richard Jackson jointly renamed Shenzhen Development Bank for
Shenzhen Development Bank. Officially ending the 25-year mission, the
23-year-old "000001" will continue to carry out its A-share K-line
legend with the "Safe Bank" vest.
As one of the three pillars of China Ping An Group's
business, Ping An Bank relies on China Ping An Group's strong comprehensive
financial services advantages and plans to develop into a major target market
in the retail business, credit card, and small and medium-sized enterprises,
with internationally advanced management. Level national first-class banks. On
the evening of August 15, 2012, Ping An Bank released its first semi-annual
report since the merger. In the first half of this year, the bank achieved an
operating income of 19.626 billion yuan, a year-on-year increase of 61.70%; net
profit attributable to shareholders of the parent company was 6.761 billion
yuan, year-on-year. The growth was 42.91%. Good industry
The performance laid the foundation for Ping An Bank's dividend plan.
According to the semi-annual report, as of the end of June,
the total assets of Ping An Bank were 1,490.623 billion yuan, up 18.47% from the
beginning of the year; the total deposits and loans reached 949.57 billion yuan
and 682.06 billion yuan, up 11.60% and 10.03% respectively from the beginning
of the year...
An Insurance (Group) Co., Ltd. announced that its
net profit for the third quarter of 2012 increased from RMB 1.8 billion a year
ago to RMB 2.1 billion (USD 163.34 million), and its net profit for the first
nine months of 2012 was RMB 16.1 billion. It grew by 11% year-on-year, with
banking accounting for about one-third of its earnings in the first nine months
of 2012 and contributing more than 80% in the last quarter.
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