SPD BANK(SH:600000) Nan Fang Du Shi Bao·2025-05-21 11:31Core Viewpoint - The frequent adjustments in the senior management of Shanghai Pudong Development Bank (SPDB) in Guangzhou and Shenzhen reflect the bank's strategic transformation and business optimization efforts amid performance pressures in the Guangdong region [2][6]. Group 1: Management Changes - Liu Hao has been approved as the vice president of SPDB's Guangzhou branch, marking a significant management change [2]. - In the past six months, three new vice presidents have been appointed at the Guangzhou branch, including Liu Hao and Wang Zhenggang, with the latter's qualification approved in March [5]. - The Shenzhen branch has also seen two new vice presidents appointed, indicating a broader trend of management restructuring within the bank [5]. Group 2: Performance Challenges - SPDB's revenue in the Pearl River Delta and the West Coast regions (Guangdong and Fujian) decreased by 1.84% year-on-year, with operating profit turning negative at -6.29 billion yuan [6][7]. - The bank's credit impairment losses surged from 3.26 billion yuan in 2023 to 9.39 billion yuan in 2024, contributing significantly to the decline in profitability [7]. - Employee numbers in the Guangdong region have decreased, with the Guangzhou branch reducing its workforce by 107 to 2,257 employees, while the Shenzhen branch saw a reduction of 101 employees to 1,886 [7]. Group 3: Strategic Focus - SPDB is focusing on major platform construction, technological innovation cooperation, infrastructure connectivity, and collaborative industrial development in the Guangdong-Hong Kong-Macao Greater Bay Area [6]. - As of the end of 2024, the total loan amount in the Guangdong-Hong Kong-Macao region reached 674.186 billion yuan, indicating the bank's commitment to supporting regional development [6].