3.Why is the new debit card (credit card) still named SDB. Given the bank has been renamed, is such card still effective?

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3.Why is the new debit card (credit card) still named SDB. Given the bank has been renamed, is such card still effective?

Home > Frequently asked questions concerning bank renaming > 3.Why is the new debit card (credit card) still named SDB. Given the bank has been renamed, is such card still effective?
Answer: Upon approval of China Banking Regulatory Commission and Administration for Industry and Commerce,, currently the headquarter of SDB has completed change of business license and started to use new seals; change of business license and seals for subordinate institutions is underway. Later branches and outlets will have business seals, vouchers, signboard, etc updated and aligned successively. In the current stage, subordinate institutions and business units of original SDB continue developing business, signing contracts or having other business activities under the original name, and all legal responsibilities and obligations relating to businesses and operations conducted under the name of SDB or PAB shall be borne by PAB after the renaming.
The name change shall have no impact on the rights and obligations of our customers and the bank. Cards, documents, certificates of deposit, etc of original SDB and original PAB as held by customers shall remain effective, account numbers shall remain unchanged, and signed contracts still effective. All creditor’s rights and liability relationships shall be inherited by PAB after the renaming.