Shanghai Pudong Development Bank, New Chinese Bank to Set up in Luxemburg

The board of Shanghai Pudong Development Bank voted to establish a subsidiary and a branch office in Luxembourg. The decision was taken on September 14th. Shanghai Pudong Development Bank, which uses the abbreviation SPD Bank, was founded in 1992, originally to help develop the city's financial centre. Today it provides corporate and personal financial services across mainland China. It also has joint ventures, in Shanghai, with the French financial group Axa and with Silicon Valley Bank. According to The Banker, a trade publication owned by the Financial Times Group, SPD Bank "is ranked 29th in the Top 1000 World Banks by Tier 1 2016 ranking, rising 6 places from the previous ranking".

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.