Adjustment of the leadership team of SPDB: Liu Xinyi resigned as president, pan Weidong served as deputy secretary of the party committee, and the president nominated vice chairman

Per reporter: Li Yuwen Per editor: Lu Jiu'an

Image source: Photo.com

On the evening of November 7, SPDB announced that it had recently received the resignation of Liu Xinyi, vice chairman and president of the company. Due to work adjustment, Liu Xinyi resigned as vice chairman, executive director, president, chairman of the capital and management committee of the board of directors, member of the strategy committee and nomination committee of the company.

The "Daily Economic News" reporter learned from relevant people of SPDB that on the afternoon of the same day, the Organization Department of the Shanghai Municipal Party Committee and the Party Committee of the Municipal State-owned Assets Supervision and Administration Commission held a meeting to announce the adjustment of the leading body at the head office of SPDB, and the municipal party committee decided: Pan Weidong was appointed deputy secretary of the party committee and president of SPDB, nominated vice chairman of the board, and dismissed Liu Xinyi from the posts of deputy secretary of the party committee, vice chairman and president of SPDB, and the follow-up procedures would be handled in accordance with relevant laws and regulations.

<h2>Pan Weidong took over the post of president</h2>

Public information shows that Liu Xinyi was born in 1965, a master's degree student, and a senior economist. He has been with Spousal Development Bank for more than 20 years and has served as President since 2015.

SPDB also expressed its gratitude to the SPD "veteran" in the above announcement. The bank said that since Liu Xinyi became president, under the leadership of the board of directors, he has been diligent and conscientious, professional and dedicated, leading the senior management to actively serve the national strategy, serve the real economy, accelerate business transformation, strengthen risk management, and do a lot of fruitful work to promote the steady improvement of the company's development quality and efficiency.

The reporter learned that the candidate to succeed Liu Xinyi has been determined. On the afternoon of November 7, the Organization Department of the Shanghai Municipal Party Committee and the Party Committee of the Municipal State-owned Assets Supervision and Administration Commission held a meeting to announce the adjustment of the leadership team at the head office of SPDB, and Jiang Yunfeng, member of the Organization Department of the Municipal Party Committee and director of the Enterprise Cadre Division, announced that the Municipal Party Committee decided that Pan Weidong would be appointed deputy secretary of the Party Committee and president of spout bank, nominate vice chairman, and dismiss Liu Xinyi as deputy secretary of the party committee, vice chairman and president of SPDB, and the follow-up procedures would be handled in accordance with relevant laws and regulations.

In fact, on October 27 this year, the Organization Department of the Shanghai Municipal Party Committee issued a pre-appointment announcement of a number of municipal management cadres, showing that Pan Weidong, vice president of SPDB, intends to take up the post of municipal management enterprise.

According to the 2018 annual report of SPDB, Pan Weidong was born in 1966, a master's degree candidate, a senior economist, a member of the party committee, a director, a vice president and a financial director of SPDB, and the chairman of Shanghai International Trust Co., Ltd. He was the deputy manager of the business department of Ningbo Securities Corporation, the general manager of the Treasury Department of the Ningbo Branch of Shanghai Pudong Development Bank, the director of the Beilun Office, the vice president of the Ningbo Branch, the general manager of the product development department of the Shanghai Pudong Development Bank, the president and secretary of the party group of the Kunming branch of the Shanghai Pudong Development Bank, the director of the Shanghai Financial Services Office and the director of the financial institution department, the member of the party committee, assistant general manager and deputy general manager of Shanghai International Group, and the secretary of the party committee and chairman of the board of directors of Shanghai International Trust Co., Ltd.

This is not the first high-level personnel adjustment of SPDB this year. On July 9, SPDB held a cadre meeting, which announced that due to age, Gao Guofu would no longer hold the leadership position of SPDB, Zheng Yang would become the secretary of the party committee of SPDB, and recommended him to be the chairman of SPDB, and the follow-up procedures would be handled in accordance with relevant laws.

<h2>In the first three quarters, it achieved a net profit of 48.350 billion yuan</h2>

Not long ago, SPDB released its third quarter report for 2019. In the first three quarters, the bank's operating income and net profit showed double-digit growth, achieving operating income of 146.386 billion yuan, an increase of 15.40% year-on-year, and net profit attributable to shareholders of the parent company after tax of 48.350 billion yuan, an increase of 11.90% year-on-year. As of the end of the third quarter, spousal banks had total assets of 6.79 trillion yuan, an increase of 7.97% over the end of the previous year.

In terms of asset quality, as of the end of the reporting period, according to the statistics of the five-level classification caliber, the balance of the bank's last three types of non-performing loans was 67.608 billion yuan, a decrease of 535 million yuan from the end of the previous year; the non-performing loan ratio was 1.76%, down 0.16 percentage points from the end of the previous year; the non-performing loan reserve coverage ratio was 159.51%, up 4.63 percentage points from the end of the previous year; and the loan provision ratio (loan allocation ratio) was 2.81%, down 0.16 percentage points from the end of the previous year.

It is worth mentioning that SPDB recently completed the largest issuance of convertible bonds in the history of A-shares, with an issuance scale of 50 billion yuan. After deducting the issuance fee, all the funds raised will be used to support the company's future business development, and will be used to supplement the company's core Tier 1 capital in accordance with relevant regulatory requirements after the conversion of convertible bond holders into shares.

In addition, in addition to convertible bonds, SPDB also issued 30 billion yuan of perpetual bonds in July this year, and the funds raised were included in other Tier 1 capital.

As of the end of the third quarter of this year, the core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio and capital adequacy ratio of the bank (group caliber) were 10.10%, 11.39% and 14.01% respectively, all of which increased from the end of the previous year.

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