Shanghai Pudong Development Bank, branded as Pufa Bank in Chinese and SPD Bank in English, is a city-owned joint-stock commercial bank. It was established in 1993 and owned by the Shanghai Municipal Government.
Shanghai Pudong Development Bank issued a 400 million A-share offer on 23 September 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". The registered capital reached RMB 2.41 billion. 320 million shares of the issue were listed on the Shanghai Stock Exchange on 10 November 1999 (stock code 600000).[1]
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.[2] It was the first Sino-American joint venture bank.[3]