Bank of Shanghai Co., Ltd. (BOSC) is an

urban commercial bank An urban commercial bank () or city-based commercial bank refers to a type of bank in China operating locally with significant shares from the local government. Founded as urban credit cooperatives in 1980s, it aimed to provide funds for local sm ...

based in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

in China. The bank was ranked 73rd among 1000 banks around the world by ''

The Banker ''The Banker'' is an English-language monthly international financial affairs publication owned by ''The Financial Times'' Ltd. and edited in London, United Kingdom. The magazine was first published in January 1926 through founding Editor, Brend ...

'' in terms of their

Tier 1 capital Tier 1 capital is the core measure of a bank's financial strength from a regulator's point of view.By definition of Bank for International Settlements. It is composed of ''core capital'', which consists primarily of common stock and disclosed res ...

in 2020.

History

The Bank of Shanghai was founded on December 29, 1995, as the Shanghai City Cooperative Bank, by the merger of 98 City Cooperative Credit Unions of Shanghai, together with the Joint Union of the Shanghai City Cooperative Credit Unions. The company resolved to change its name to the "Bank of Shanghai" in 1998, and regulatory registration of the new name was completed in 2000. Headquartered in Shanghai, China, it is a listed company on the main board of the Shanghai Stock Exchange with stock code 601229. In September 1999 and December 2001, Bank of Shanghai received equity investments from

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

of the

World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...

The Hong Kong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited (), commonly known as HSBC (), was the parent entity of the multinational HSBC banking group until 1991, and is now its Hong Kong-based Asia-Pacific subsidiary. The largest bank in Hong ...

(HSBC) and The

Shanghai Commercial Bank The Shanghai Commercial Bank (SCB; Chinese: 上海商業銀行) is an international bank based in Hong Kong. Its subsidiary companies offer banking and financial services across the world, but mainly in China, the United Kingdom, and the United S ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

. Prior to 1949, Shanghai was the main branch of HSBC, but its operations in mainland China had significantly scaled down in the 1950s. The Shanghai Commercial Bank was also based in Shanghai before the establishment of the People's Republic of China in 1949, but its mainland operations were nationalized in 1950. On 11 December 2013, HSBC Hong Kong sold their 8.0% stake of the Bank of Shanghai to Spanish multinational banking group

Banco Santander Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres ...

for an undisclosed fee (Santander announced that including the cooperation agreement, the total investment would be

€ The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists ...

470 million), which HSBC HK listed the stake as an available-for-sale asset with a fair value of

HK$ The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and ...

3.629

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i.e ...

(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 Ping An Insurance known also as Ping An of China (), full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries provide insurance, banking, asset management, financial, healthcare services. ...

in December 2012. In 2016, the Bank of Shanghai applied the clearance for

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. Since June 2017, it was part of

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Exc ...

's blue chip index:

SSE 50 Index SSE 50 Index is the stock index of Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others ...

Shareholder

;Major Shareholders * Subsidiaries and wholly owned subsidiaries of Shanghai Municipal People's Government and district-level governments ** Shanghai Alliance Investment (15.08%) **

Shanghai International Port Group Shanghai International Port (Group) Co., Ltd. (SIPG) is the exclusive operator of all the public terminals in the Port of Shanghai. It is a component of SSE 180 Index as well as CSI 300 Index and sub-index CSI 100 Index. Its headquarters are ...

(7.20%) ** Shanghai Huixin (2.16%) ** Shanghai Huangpu District State-Owned Assets Corporation (2.20%) * Companies under the supervision of the

State Council State Council may refer to: Government * State Council of the Republic of Korea, the national cabinet of South Korea, headed by the President * State Council of the People's Republic of China, the national cabinet and chief administrative auth ...

(

SASAC The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of vario ...

and the

Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Eco ...

) **

China Jianyin Investment China Jianyin Investment Co., Ltd. (JIC) is a Chinese investment company owned by the government of the People's Republic of China. Founded in 2004, it is a wholly owned subsidiary of Central Huijin Investment and is an integrated investment group ...

(5.48%) ** China Shipbuilding & Offshore International of

China Shipbuilding Industry Corporation The China Shipbuilding Industry Corporation (CSIC) was one of the two largest shipbuilding conglomerates in China, the other was the China State Shipbuilding Corporation (CSSC). It was formed by the Government of the People's Republic of Chin ...

(4.63%) ** CITIC Guoan of

CITIC Guoan Group CITIC Guoan Group Co., Ltd. is a Chinese company. The company itself was founded by CITIC Group (who currently owns a 20.95% stake). CITIC Guoan Group is the largest shareholder of CITIC Guoan Information Industry, CITIC Guoan Wine and Global ...

(2.00%) *

(7.20%) *

TCL Corporation TCL Technology (originally an abbreviation for Telephone Communication Limited) is a Chinese electronics company headquartered in Huizhou, Guangdong Province. It designs, develops, manufactures, and sells consumer products including televisi ...

(3.73%) *

(3.00%) According to the bank, 206 Chinese

state-owned enterprise A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...

s owned 56% stake of the share capital in total, as at 31 July 2015.

References

External links

* Companies listed on the Shanghai Stock Exchange Banks of China Banks based in Shanghai Banks established in 1996 Chinese companies established in 1996 Chinese brands Companies in the CSI 100 Index {{China-company-stub

History

Shareholder

See also

References

External links