Bank of Shanghai

Bank of Shanghai
Industry Financial services
Founded 30 January 1996 (1996-01-30)
Headquarters Shanghai, China
Services Retail and corporate banking
Revenue Increase CN¥33.159 billion (2015)
Increase CN¥15.918 billion (2015)
Profit Increase CN¥13.002 billion (2015)
Total assets Increase CN¥1.449 trillion (2015)
Total equity Increase CN¥92.834 billion (2015)
Owner
Capital ratio Steady 10.32% (CET1)
Website www.bankofshanghai.com
Footnotes / references
in a consolidated basis; please see the report for their definition of revenue, operating income in Chinese accounting standards[1]
Bank of Shanghai Co., Ltd.
Simplified Chinese 上海银行股份有限公司
Traditional Chinese 上海銀行股份有限公司
Literal meaning Shanghai Bank Joint-Stock Limited Company
Bank of Shanghai
Simplified Chinese 上海银行
Traditional Chinese 上海銀行

Bank of Shanghai Co., Ltd. (BOSC) is an urban commercial bank based in Shanghai in China. The bank was ranked 108th among the banks around the world by The Banker in terms of their Tier 1 capital in 2015.[1]

History

In September 1999 and December 2001, Bank of Shanghai received equity investments from International Finance Corporation of the World Bank Group, The Hong Kong and Shanghai Banking Corporation (HSBC Hong Kong) and The Shanghai Commercial Bank of Hong Kong. The latter two were also based in Shanghai before the establishment of the People's Republic of China in 1949. However, the branches were nationalized after 1949 until they were re-established in mainland China during the Chinese economic reform.

On 11 December 2013, HSBC Hong Kong sold their 8.0% stake of the Bank of Shanghai to Spanish multinational banking group Banco Santander for an undisclosed fee (Santander announced that including the cooperation agreement, the total investment would be €470 million), which HSBC HK listed the stake as an available-for-sale asset with a fair value of HK$3.629 billion (approx. US$468 million) in the balance sheet at 30 September 2013.[2][3] It was HSBC's successive disinvestment in the mainland China after selling Ping An Insurance in December 2012.

In 2016 the Bank of Shanghai applied the clearance for IPO.

Shareholder

As of 31 December 2015[1]
major shareholders

According to the bank, 206 Chinese state-owned enterprises owned 56% stake of the share capital in total, as at 31 July 2015.

References

  1. 1 2 3 "2015 Annual Report" (PDF) (in Chinese). Bank of Shanghai. 23 September 2016. Retrieved 11 November 2016.
  2. ↑ "HSBC to sell minority stake in Bank of Shanghai" (PDF). HSBC Holdings. 11 December 2013. Retrieved 11 November 2016.
  3. ↑ "Santander signs a cooperation agreement with Bank of Shanghai and buys an 8% stake". Banco Santander. 10 December 2013. Retrieved 11 November 2016.

External links

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