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SPDB Ranked Top 3 Chinese Banks

The Asian Banker published on September 27th 2007 in Singapore the result of ‘The Asian Banker 300’ of the year. The annual ranking by the magazine is reputed as the most recognized and comprehensive in the Asian banking arena covering the largest the strongest banks in Asia.  ‘Top 3 Strongest Banks’ are selected in every country or region. This year Shanghai Pudong Development Bank ranks the second in mainland China. (The other two winners are China Merchant Bank and the Bank of China.)

The result this year shows that Asian banks have witnessed widespread improvement in asset quality, operating efficiency and capital adequacy.  The banks in Hong Kong, Singapore and Australia stand high on the lists, among which HSBC wins the first place. Among the top 300 Asian banks, Chinese banks account for 23% of the total assets in 2006, rising from 20.7% in 2005. In terms of profit, the percentage of Chinese banks has risen from 16.1% in 2005 to 21.1% in 2006. These rises are due to the increase in the number and, more importantly, the improvement of profitability of the selected Chinese banks.