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SDB is involved in trade financing, supply chain financing, offshore banking, and commercial banking. This state owned banking corporation, formed in 1987, is based in Shenzen in Guangdong. In addition to 266 branches across 18 cities in China, SDB operates through 600 correspondent banks in more than 70 countries.
Brief history
Shenzhen Development Bank Company Limited was established as a state-owned banking enterprise in 1987. It was first Chinese bank to go for an IPO in 1987 and get enlisted at Shenzhen Stock Exchange. SDB in 2004, became first Chinese banking organization to have a foreign institution as its largest shareholder. SDB has emerged into a major commercial bank with depository, credit and wealth management services.
Products and services
Like all commercial banks, SDB also offers personal banking and corporate banking services.
Personal services – Personal services of SDB includes deposit mobilization, wealth management, end-user loans, credit card operations, and e-banking. This bank provides automobile, housing, featured, and business operation loans to individuals. Term deposits, savings deposits, and current deposits are different deposit accounts that can be operated by individuals.
Corporate banking services – Corporate services comprise trade finance solutions, trade finance products, loan and guarantee services, corporate wealth management, off-shore management, cash management and international settlement. Trade finance products include issuance of letter of credit, shipping guarantee, export discounting, export bill purchase, export credit insurance, import bill advance and cargo against bills.
Financials
SDB holds assets worth about US $22.87 billion and achieved total sales of US $0.79 billion till 2005 end. In same period it earned profits of US $0.04 billion.
Awards and recognition
SDB was first Chinese bank to have an international investor, Newbridge Asia AIV III L.P., as their predominant equity holder. It's one of the earliest Chinese banks to have introduced e-banking facilities for its clients. SDB also introduced B2B online payment facility, dynamic password, and e-ticketing.
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