On November 7, Shanghai Pudong Development Bank issued an announcement that it had recently received the resignation of Liu Xinyi, vice chairman and president of the company. Due to work adjustment, Liu Xinyi resigned as vice chairman, executive director, president, chairman of the capital and management committee of the board of directors, and member of the strategy committee and nomination committee of SPDB. In accordance with the articles of incorporation, the resignation shall take effect from the date of service to the Board of Directors of the Company.
Pending the appointment of a new President by the Board of Directors and the approval of the Qualifications of the China Banking and Insurance Regulatory Commission, Pan Weidong, Executive Director, Vice President and Chief Financial Officer, shall act as President. Previously, the Organization Department of the Shanghai Municipal Party Committee had announced that Pan Weidong intended to serve as the head of the municipal management enterprise, which meant that Pan Weidong would be promoted to president.
Liu Xinyi: SPD veteran as president for four years SPD total assets increased by nearly 50%
Liu Xinyi has worked at SPDB for more than 20 years and has served as president since 2015. Spousal Development Bank said in the announcement that since Liu Xinyi became president, under the leadership of the board of directors, he has been diligent and conscientious, professional and dedicated, led the senior management to actively serve the national strategy, serve the real economy, accelerate business transformation, strengthen risk management, and do a lot of fruitful work to promote the steady improvement of the company's development quality and efficiency, and the company's board of directors thanked him for his contributions during his tenure.
Born in 1965, Liu Xinyi is 54 years old, with a postgraduate degree and a senior economist. Liu Xinyi is a "veteran" of Pufa, except for a few years of external positions in the middle, the basic work experience is concentrated in Pufa. In the early days, he served as the vice president of the airport branch of SPDB (presiding over the work), the deputy general manager of the Shanghai regional headquarters of SPDB, and a member of the party committee, and then seconded to the Shanghai Municipal Financial Services Office in 2002 as the director of the Institutional Division and the assistant director of the Shanghai Municipal Financial Services Office. In 2005, Liu Xinyi returned to SPDB as Vice President and Chief Financial Officer. In January 2014, SPDB issued an announcement that it had received the resignation of Liu Xinyi, who resigned as vice president and chief financial officer of the company on the grounds of job transfer, and later became the president of Shanghai Guosheng Group Co., Ltd.
A year later, Liu Xinyi returned to Pufa again and took over zhu Yuchen as president, whose qualifications were approved by the former China Banking Regulatory Commission on June 19, 2015. In addition, Since 2015, Liu Xinyi has also served as the chairman of SPD Silicon Valley Bank, a joint venture between Shanghai Pudong Development Bank and Silicon Valley Bank of the United States.
During the four years that Liu Xinyi served as sprawl development banking director, SPDB's operating data maintained rapid growth, with total assets increasing from 4.20 trillion yuan at the end of 2014 to 6.29 trillion yuan at the end of 2018, an increase of nearly 50%, and the net profit attributable to the shareholders of the parent company increased from 47.026 billion yuan in 2014 to 55.914 billion yuan in 2018, an increase of 18%.
Pan Weidong: Or will take over as president and partner with Zheng Yang
In May 2015, Pan Weidong was approved by the CBRC as a vice president of SPDB, and He was his partner during Liu Xinyi's tenure as president of SPDB.
Pan Weidong was born in 1966, aged 53, with a postgraduate degree, a master's degree in economics, and a senior economist. He started his career in July 1988 and was the deputy manager of the business department of Ningbo Securities Corporation in the early days, and then joined SPDB, successively serving as the general manager of the asset department of Ningbo Branch, the president of Beilun Branch, the vice president of Ningbo Branch, the general manager of the product development department of SpDB, the president of Kunming Branch, and the secretary of the party group.
Similar to Liu Xinyi, Pan Weidong also has the experience of the Shanghai Municipal Financial Services Office, and from June 2005 to March 2008, he served as the director of the Financial Institutions Division of the Shanghai Municipal Financial Services Office. After that, Pan Weidong served as the assistant general manager of Shanghai International Group, and later promoted to deputy general manager, and also served as the chairman of Shanghai International Trust Co., Ltd. In 2015, Pan Weidong returned to SPDB and became the bank's no. 1 vice president and financial director.
It is worth noting that soon after Pan Weidong's return, SPDB launched the acquisition of Shanghai Trust. On June 16, 2015, SPDB announced that it intends to acquire 97.33% of the equity of Shanghai Trust held by Shanghai International Group and Shanghai Jiushi Company from 11 counterparties, including Shanghai International Group and Shanghai Jiushi Company, by issuing shares to purchase assets. By the completion of the acquisition in 2016, Shanghai Trust became a holding subsidiary of SPDB, and SPD also became the fourth bank to have a trust license.
On October 27 this year, the Organization Department of the Shanghai Municipal Party Committee issued a number of pre-appointment announcements for municipal party committee cadres. It shows that Pan Weidong, vice president of SPDB, intends to serve as the head of the municipal management enterprise. After Liu Xinyi resigned, he acted as president, and Pan Weidong was considered to be the successor of the president, and he would be partnered with Zheng Yang, who had just been transferred to SPDB. Zheng Yang, former secretary of the Shanghai Municipal Financial Work Commission of the Communist Party of China and director of the Shanghai Municipal Financial Supervision and Administration Bureau, became the secretary of the party committee of SPDB in July this year, and was recommended to be the chairman of SPDB.
SpDB's performance this year has significantly picked up the non-performing rate and decreased
This year, the bank's performance picked up significantly, the growth rate of revenue and net profit in 2018 was single digits, and it rose to double-digit growth in the first three quarters of this year, achieving operating income of 146.386 billion yuan, an increase of 15.40% year-on-year, and net profit attributable to the mother of 48.350 billion yuan, an increase of 11.90% year-on-year. At the end of the third quarter of this year, the bank's total assets reached 6.79 trillion yuan, ranking third among listed joint-stock banks.
However, while the performance has grown, the bank's non-performing loan ratio has also increased, climbing from 1.06% at the end of 2014 to 2.14% at the end of 2017, rising by more than 1 percentage point in just three years, and in 2017, SPD was the only bank among the nine listed joint-stock banks with a non-performing rate of more than 2%. At the end of 2018, the bank's non-performing rate dropped to 1.92%, but it was still the highest among the nine joint-stock banks. As of the end of the third quarter of this year, the bank's non-performing rate further dropped to 1.76%, ranking second among listed joint-stock banks, second only to Huaxia Bank's 1.88%, but SPDB has been roughly equivalent to the level of non-performing rate of other similar banks, and the difference with CITIC, Ping An, Minsheng and other banks is no more than 0.1 percentage points.
Since the beginning of this year, SPDB has carried out two large-scale "blood replenishment", with a total scale of 80 billion yuan. In July this year, SPDB issued 30 billion yuan of open-ended capital bonds, and the funds raised were included in other Tier 1 capital. On October 28, SPDB issued a total of 50 billion yuan of convertible corporate bonds, setting a record for the largest financing scale of A-share convertible bonds, and the funds raised were used to supplement the company's core Tier 1 capital.
As of the end of the third quarter of this year, the bank's core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio and capital adequacy ratio were 9.75%, 11.07% and 13.73% respectively, all of which increased slightly from the end of the previous year. SPDB said that although the current capital adequacy level meets the capital regulatory requirements at this stage, the continuous growth of asset scale has put forward higher requirements for the capital adequacy level, and the bank needs to continue to meet regulatory requirements while also reserving space for possible subsequent regulatory requirements.
Beijing News reporter Gu Zhijuan Editor Ren Wanqing Proofreader Wu Xingfa