SPD BANK(SH:600000) 证券时报·2025-08-31 00:23Core Viewpoint - Shanghai Pudong Development Bank (SPDB) has reported a positive performance in the first half of 2025, driven by its "digital intelligence" strategy and integration into Shanghai's development initiatives, achieving growth in both revenue and profit [1][2]. Financial Performance - In the first half of the year, SPDB achieved operating income of 90.559 billion yuan, a year-on-year increase of 2.62%. The net profit attributable to shareholders reached 29.737 billion yuan, up 10.19% year-on-year [3]. - As of the end of June, the bank's total assets amounted to 9.65 trillion yuan, reflecting a growth of 1.94% compared to the end of the previous year. The total loans (including bill discounts) reached 5.63 trillion yuan, an increase of 4.51% [3]. - The loan balance accounted for 58.42% of total assets, an increase of approximately 1.44 percentage points from the end of the previous year [3]. Business Growth and Structure - SPDB has maintained moderate growth in scale and significantly optimized its business structure, leading the industry in new loan growth. The net interest margin stood at 1.41%, with a decline of only 1 basis point since the beginning of the year, which is significantly lower than the industry average [3]. - The bank's "five major tracks" contributed prominently to growth, with these sectors accounting for 70% of new loans. The Yangtze River Delta region contributed nearly 50% of the bank's new deposits and loans [3]. Asset Quality and Risk Management - As of June, SPDB's non-performing loan ratio was 1.31%, a decrease of 0.05 percentage points from the end of the previous year, marking five consecutive years of decline. The provision coverage ratio was 193.97%, up 7.01 percentage points from the end of the previous year, achieving the best levels in nearly a decade [4]. Strategic Initiatives - The bank's "digital intelligence" strategy has shown significant results, with a focus on technology-driven, data-centric, and agile responses. The technology finance sector has seen substantial growth, with over 240,000 technology enterprises served and a loan balance exceeding 1 trillion yuan [7]. - In the supply chain finance sector, SPDB's online supply chain business volume surpassed 350 billion yuan, with a year-on-year growth rate of 380% [7]. - The management emphasized the importance of innovation and strategic focus to navigate challenges and seize opportunities in a complex market environment [8].