Shanghai Pudong Development Bank 2024 Q1 Report: Clarify Strategic Direction and Achieve a Good Start

According to the first quarter report of 2024 released by Shanghai Pudong Development Bank on April 29, in the face of the complex and severe internal and external environment, after the "100-day attack" at the end of last year and the "spring attack" at the beginning of this year, Shanghai Pudong Development Bank consolidated the positive momentum and achieved a good start in the first quarter of this year on the basis of stable and good business development in the fourth quarter of 2023.

According to the data, in the first quarter of 2024, SPD Bank achieved an operating income (group caliber) of 45.328 billion yuan and a net profit attributable to shareholders of the parent company of 17.421 billion yuan, a year-on-year increase of 10.04%.

Shanghai Pudong Development Bank said that in the first quarter, guided by the "digital intelligence strategy", focusing on the "five major articles", Shanghai's "five center construction" and "five tracks", focusing on the main business line of "building tracks, consolidating the foundation, improving quality, strengthening the team and increasing efficiency", it actively served the real economy, strengthened transformation and development, optimized business structure and consolidated customer base.

The first quarter started well

In the first quarter of 2024, SPD Bank took the initiative to seize market opportunities and achieved connotative and intensive growth of assets and liabilities by increasing efficient financial supply, increasing credit supply, strengthening the integrated management of liabilities, and formulating effective investment strategies, effectively controlling the interest payment rate, and promoting the growth of net profit in the first quarter.

As of the end of the first quarter, the total assets of SPD Bank reached 9.05 trillion yuan, and the total corporate loans (excluding bill discounting) reached 3.03 trillion yuan, an increase of 188.605 billion yuan or 6.64% from the end of the previous year. The incremental growth rate of corporate loans ranks among the top in the stock industry.

In terms of asset quality, SPD Bank adhered to the principle of reducing non-performing loans, strictly controlling risk costs, and controlling the quality of investment, with a non-performing loan ratio of 1.45% in the first quarter of 2024, a decrease of 0.03 percentage points from the end of the previous year, and a provision coverage ratio of 172.84%.

The advantages of the "five major tracks" are highlighted

SPD Bank is committed to the transformation of the "digital and intelligent strategy", and is working at full speed in the five major tracks of "technology finance, supply chain finance, inclusive finance, cross-border finance, and treasury finance".

In terms of technology finance, SPD Bank empowers the development of technology finance business through digital intelligence, builds a "Puke 5+7+X" product system with the four characteristics of "full cycle, multi-financing, digital intelligence, and customization", and launches online financing products such as "Puchuang Loan" and "Puxin Loan", which has become a strong backing for the whole process innovation of technology enterprises. As of the end of the Reporting Period, SPD Bank served more than 60,000 technology-based enterprises, with a balance of over RMB530 billion in technology-based financial loans.

In terms of supply chain finance, SPD Bank has built a full-scenario, full-online, all-intelligent and full-ecological "1 brand + 1 platform + X innovative product" digital and intelligent supply chain finance business system, and the newly launched flagship product "Puliantong" has broken through the blockages in the supply chain, and has provided financing services for 282 suppliers by the end of the first quarter. As of the end of the Reporting Period, SPD Bank had served 2,023 core customers in the supply chain and 22,200 customers in the upstream and downstream supply chains.

In terms of inclusive finance, SPD Bank has created a new model of inclusive finance of "light access + fast replication + full coverage", and launched a series of "Hui" product systems: preferential credit loans, preferential flash loans, preferential chain loans, and preferential guarantee loans to facilitate personal loans. As of the end of the Reporting Period, the balance of inclusive loans amounted to RMB439.9 billion, an increase of RMB17.5 billion from the end of the previous year.

In terms of cross-border finance, SPD Bank has launched the "6+X" cross-border financial service system, relying on the advantages of scenario-based and integrated financial services such as corporate business, financial market, treasury management, and cross-border custody, to escort Chinese enterprises to "go global" and overseas enterprises to "bring in". As of the end of the Reporting Period, SPD Bank had 27,000 cross-border active customers and 129 CIPS foreign and overseas interbank customers, maintaining its leading position as a joint-stock bank. In the first quarter of 2024, SPD Bank handled 1.2 trillion yuan of cross-border business, with a year-on-year increase of 42% in the number of agency settlement business and a 105% year-on-year increase in settlement amount.

In terms of treasury and finance, SPD Bank accelerated the construction of a platform-based operation base, customer operation and service system, product service system, data operation management system, intelligent operation system and risk management system, and improved the energy efficiency of online and offline treasury services. As of the end of the reporting period, there were 160 million individual customers (including credit cards), the balance of AUM personal financial assets (including market value) was 3.76 trillion yuan, and the balance of personal deposits was 1.44 trillion yuan.

Actively contribute to national and regional strategies

In the first quarter of 2024, SPD Bank will further consolidate the advantages and characteristics of the integrated development of the Yangtze River Delta region, and continue to increase support for emerging industries such as integrated circuits, biomedicine, aerospace, and high-end equipment, as well as inclusive small and micro enterprises, technological innovation, and green finance. As of the end of the reporting period, the balance of loans in the Yangtze River Delta region was 1.74 trillion yuan, and the balance of deposits was 2.16 trillion yuan, continuing to rank first among joint-stock banks.

In the Beijing-Tianjin-Hebei region, SPD Bank strongly supports the construction of the Xiong'an New Area and the Capital Economic Circle, and closely connects with the construction of national-level parks with non-capital functions, industrial transformation and upgrading, and batch transfer of regional industries. As of the end of the reporting period, the balance of loans in the Beijing-Tianjin-Hebei region was RMB481.458 billion.

In the Guangdong-Hong Kong-Macao Greater Bay Area, SPD Bank focuses on supporting the development of advanced manufacturing, emerging industries and modern service industries, focusing on the construction of major platforms, scientific and technological innovation cooperation, infrastructure connectivity, coordinated industrial development, and people's livelihood exchanges and cooperation. As at the end of the Reporting Period, the balance of loans in Guangdong, Hong Kong and Macao was RMB671.806 billion.

Fully support the construction of Shanghai's "five centers".

As a flagship financial enterprise headquartered in Shanghai, SPD Bank fully supports the construction of Shanghai's "five centers" of international economic center, financial center, trade center, shipping center and science and technology innovation center, focusing on financial services for the real economy, and fully tapping business development opportunities from Shanghai's development plan and major industrial layout. Create the management advantages of characteristic customer groups and help the construction of Shanghai's "four major functions". As of the end of the Reporting Period, the balance of loans of Shanghai Pudong Development Bank Shanghai Branch was RMB649.398 billion, ranking first among joint-stock banks.

Shanghai Pudong Development Bank said that it will firmly grasp the critical year of 2024, strengthen confidence, carry forward the advantages of genes, location, efficiency, mechanism and professionalism, and accumulate new impetus for development with characteristics and advantages; The motivation to work hard, based on a new starting point, and strive to make new contributions to the construction of a financial power.