Bank of Shanghai


Bank of Shanghai Co., Ltd. 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.

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 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, which HSBC HK listed the stake as an available-for-sale asset with a fair value of HK$3.629 billion 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. Since June 2017, it was part of Shanghai Stock Exchange's blue chip index: SSE 50 Index.

Shareholder

;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.