Shenzhen Development Bank Explained

Shenzhen Development Bank
Type:public
Successor:Ping An Bank
Fate:reserve merger with Ping An Bank
Defunct:2012
Location City:Shenzhen
Location Country:China
Area Served:China
Industry:Financial services
Services:Retail and corporate banking
Owner:Ping An Insurance (52.38%)
Parent:Ping An Insurance
Homepage:sdb.com.cn

Shenzhen Development Bank Co., Ltd. was a bank based in Shenzhen, Guangdong, China, listed on the Shenzhen Stock Exchange.

Ping An Insurance bought the controlling stake in Shenzhen Development Bank in 2011, from Newbridge Capital (16.76%) and from the general public, as well as subscribing new share by injecting Ping An Bank into Shenzhen Development Bank as its subsidiary.[1]

In 2012, the bank was reserved merger with Ping An Bank.

Notes and References

  1. Web site: 2011 Annual Report. 9 March 2012. 27 October 2016. Shenzhen Development Bank. archive of Shenzhen Stock Exchange.