SPD Bank approves credit lines for subsidiaries

Shanghai Pudong Development Bank (SPD Bank) has approved substantial credit facilities for its subsidiaries, SPD Bank Financial Leasing Co., Ltd. and SPD International Holdings Limited, according to a recent announcement. The bank will extend a RMB 26.5 billion credit line to SPD Bank Financial Leasing and a HKD 13.5 billion (approximately RMB 12.74 billion) line of credit to SPD International Holdings. These related-party transactions were approved by the Board of Directors after review by relevant committees and independent directors. SPD Bank emphasized that these are normal credit extension operations and will not significantly impact the bank's financial condition or operating results. The credit lines are set to expire in December 2025 and January 2026, respectively. These transactions are in compliance with regulatory requirements and the bank's internal governance policies.