Best private bank for transparency 2017
Shanghai Pudong Development Bank
Shanghai Pudong Development Bank, founded in 1993, has always placed information and data transparency at the heart of its operations. The focus of the lender, headquartered and listed in Shanghai, is to provide high-end services to wealthier, urbanized customers based in China’s leading financial centre.
SPDB notes in its 2015 annual report that it is constantly looking to increase transparency and improve governance levels. Nowhere is transparency more central to its governing ethos than when it comes to its private banking services.
In recent years, it has rolled out precious metals funds and a host of high-end investment products, all outlined in its interim and annual reports and in meticulously compiled portfolio reports, tailored and issued to each of its high net-worth customers.
Building on its presence in Hong Kong, SPDB’s private banking division offers offshore insurance policies, insurance policy financing and a host of offshore financing products, along with family trust and family office services to its more than 15,000 private banking customers. The bank is also pushing ahead with plans to deepen its wealth management business, build new cash-management features and offer enhanced private banking services.