Industry Financial services Total assets 1.449 trillion CNY (2015) Total equity 92.83 billion CNY (2015) | Capital ratio 10.32% (CET1) Revenue 33.16 billion CNY (2015) Net income 13 billion CNY (2015) | |
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Services Retail and corporate banking Operating income Profit CN¥13.002 billion (2015) Owner Shanghai Government (26.64%)Central People's Government (12.11%)Banco Santander (7.20%)TCL Corporation (3.73%)Shanghai Commercial Bank (3.00%)others (47.33%) Stock price 601229 (SHA) CN¥ 24.24 -0.24 (-0.98%)1 Mar, 3:00 PM GMT+8 - Disclaimer Founded 30 January 1996, Shanghai, China | ||
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.
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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. 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 2015According to the bank, 206 Chinese state-owned enterprises owned 56% stake of the share capital in total, as at 31 July 2015.