Shanghai Pudong Development Bank
Shanghai Pudong Development Bank Co. Ltd (SPDB or Pufa; ) is a state-owned joint-stock commercial bank, established in 1993, with its headquarters located in Shanghai.

Shanghai Pudong Development Bank issued a 400 million A-share offer on September 23, 1993, on the Shanghai Stock Exchange. It became the first shareholding commercial bank to list with both Central Bank and China Securities Regulatory Commission’s approval since the enactment of "Commercial Bank Law" and "Securities Law". Thus, the registered capital reached RMB 2.41 billion. 320 million shares of the issue were listed on the Shanghai Stock Exchange on November 10, 1999 (stock code 600000).

History

Shanghai Pudong Development Bank partnered with Silicon Valley Bank in 2012 to create a separate Shanghai-based bank to lend to local technology startups. It was the first Sino-American joint venture bank.

In 2019, it was reported that the bank was under investigation for alleged money laundering and sanctions violations involving the North Korean regime. The bank allegedly moved money for the Foreign Trade Bank of the Democratic People's Republic of Korea that was used to finance the country's nuclear and ballistic missile programs.

References

External links

  

Companies in the CSI 100 Index
Companies listed on the Shanghai Stock Exchange
Government-owned companies of China
Banks established in 1993
Banks based in Shanghai
Government-owned banks