SPD Bank approves $350bn credit line for major shareholder

Shanghai Pudong Development Bank (SPD Bank) has approved a CNY350 billion comprehensive credit line for Shanghai International Group Co., Ltd., effective for one year. This transaction constitutes a significant connected transaction, as Shanghai International Group is a related legal person and the single transaction amount exceeds 1% of SPD Bank's latest audited net assets, reaching 4.75%. The transaction was reviewed and approved by the board's risk management and connected transactions control committee and independent directors, with final board approval on August 26, 2025.

According to SPD Bank’s half-year report for 2025, the bank's total assets reached CNY9,645.791 billion, with total loans and advances to customers at CNY5,634.931 billion as of June 30, 2025. Shanghai International Group and its controlled subsidiaries collectively hold 29.09% of SPD Bank's shares, classifying it as a major shareholder. The approval process aligns with regulatory requirements, ensuring fairness and transparency.