Shanghai Pudong Development Bank (SPDB) and American Express kick off the inaugural partnership as they join hand to roll out a high-end credit card issued by SPDB on American Express' global network specifically for private banking customers – the SPDB Private Banking American Express® Credit Card.
The launch of the SPDB Private Banking American Express Credit Card aligns with SPDB's Private Banking brand value of "inheritance beyond wealth", as it offers full-scale personalized services for both the Cardmembers and their families, making it a card of inheriting success. This by-invitation-only product also lets Cardmembers enjoy American Express' expertise in the premium card segment and its comprehensive merchant network around the globe.
"Rolling out the SPDB Private Banking American Express Credit Card represents another example of SPDB Private Banking's dedication to raising our service quality," said Jiang Ming-sheng, Executive Vice President of SPDB. "American Express is well known for its service excellence in the premium segment, and SPDB enjoys high level of customer loyalty with its reliable operations in China. Riding on the strengths of both parties, this partnership results in a product that is tailor made for our private banking customers and bringing them best-in-class service experience and financial products."
"We are thrilled to establish this partnership with Shanghai Pudong Development Bank as this not only brings to market a credit card product that is specifically tailored for the private banking sector, but also represents a marriage of our expertise in the premium segment," said Y C Koh, President, Asia, Card Services of American Express. "This product reinforces American Express' commitment to be the network of choice for affluent customers around the world, and it is another important milestone in our long-term dedication to the Chinese market. With the launch of this product, we hope to bring the Chinese premium consumers closer to American Express' offerings around the globe."
About Shanghai Pudong Development Bank
A nationwide joint-stock commercial bank founded on August 28, 1992, Shanghai Pudong Development Bank (known as SPD Bank for short) went listed in Shanghai Stock Exchange in 1999 (stock code: 600000). At present, SPD Bank’s registered capital stands at RMB 18.653 billion yuan. SPD Bank has earned respect and good fame in the domestic stock market on account of its outstanding performance and trustworthiness.
Holding on to the motto of “sticking to integrity and striving for excellence”, the bank has continuously developed its various businesses and enhanced its overall competence. By the end of 2012, its total assets stood at RMB 3.1457 trillion yuan, outstanding balance of loans being RMB 1.5446 trillion yuan and outstanding balance of deposits being RMB 2.1344 trillion yuan, making an after-tax profit of RMB 34.186 billion yuan. A national network was in place with 37 main branches and 824 banking outlets. A nationwide commercial bank has taken shape. In addition, with the opening of Hong Kong Branch and the preparation of London Representative Office, SPD Bank has taken steps towards going global.
About American Express
American Express is a global company providing its products, consulting services and experience to improve quality of life and professional growth for its customers. Read more at www.americanexpress.com, www.facebook.com/americanexpress, www.twitter.com/americanexpress, or www.youtube.com/americanexpress.
Since 1996, American Express has been pursuing its strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 148 partnerships in 160 markets across the world.