China (PRWEB) September 1, 2007
SunGard (http://www.sungard.com) today announced that Shenzhen Development Bank (SDB), one of China's leading national banks, has selected SunGard's BancWare (http://www.sungard.com/bancware) to help manage its market and liquidity risk and produce regulatory reporting. BancWare ALM will be implemented in SDB's head office in Shenzhen City.
SDB required an asset and liability management (ALM) solution that could help it to manage strategic business planning across its 230-branch operation. BancWare provides static and dynamic ALM analysis and detailed risk/return profiling, which will help SDB manage its cash more efficiently, enhance its liquidity management, manage the interest rate term structure across multiple market and business scenarios and help improve the risk-return profile of its banking book.
SDB will also use BancWare to help it assess the risk sensitivity of its balance sheet across multiple reporting attributes and help it produce accurate and timely regulatory reports for the China Banking Regulatory Commission (CBRC) and Asset Liability Management Committee (ALCO).
John Wilson, president of SunGard's Asia Pacific business unit, said, "I look forward to developing a long-term relationship with SDB and other financial institutions in China to help them improve their risk-return profile and their strategic business planning."
About Shenzhen Development Bank
Shenzhen Development Bank, the first joint-stock owned company to list on the Shenzhen Stock Exchange (SZSE 000001), is a national bank headquartered in Shenzhen, with RMB 246 billion yuan in assets as of 2006-09-30. SDB provides a broad range of services to commercial, retail and government customers, through 244 branches and sub-branches, with over 7700 employees in 18 major cities across China. The bank is approximately 72% owned by tradable shares held by the public; 17.9% is owned by Newbridge Asia AIV III, L.P.
About SunGard Asia Pacific
SunGard Asia-Pacific combines the global presence and strength of SunGard with local knowledge and expertise. Dedicated staff members in 24 offices in 14 countries across the region are committed to providing exceptional service, leading-edge technology and integrated solutions to the Asia-Pacific financial services community. Serving over 900 customers, including 14 of the region's 20 largest financial services companies, SunGard Asia Pacific's key principles rest on quality service and support.
With annual revenue exceeding $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. For more information, visit http://www.sungard.com
Trademark Information: SunGard, the SunGard logo and BancWare are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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