September 24, 2017 12:01 AM ET

Banks

Company Overview of Shanghai Commercial Bank Limited

Company Overview

Shanghai Commercial Bank Limited, together with its subsidiaries, provides various retail and corporate banking products and services. The company offers various deposit services, such as current savings, checking, fixed deposit, call deposit, and student/children savings accounts, as well as payment services, currency exchange, safe deposit boxes, and ATM services; and RMB services, including deposits, cheques, exchange, remittance, and credit cards to individual and corporate clients. It also provides mortgages and loans, such as housing mortgages, government housing schemes, reverse mortgage, personal installment loans, personal tax loans, and shares overdraft facilities to individuals; a...

Shanghai Commercial Bank Tower

12 Queen's Road

Central,  

Hong Kong

Founded in 1950

1,735 Employees

Key Executives for Shanghai Commercial Bank Limited

Chief Executive Officer, Managing Director and Executive Director
Age: 64
Chief Financial Controller and Executive Vice President
Age: 47
Alternate Chief Executive and Chief of Information Technology & Operations
Age: 55
Chief of Legal & Compliance and Executive Vice President
Chief of Human Resources and Executive Vice President
Compensation as of Fiscal Year 2017.

Shanghai Commercial Bank Limited Key Developments

Shanghai Commercial Bank Announces Consolidated Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017

Shanghai Commercial Bank announced consolidated earnings results for the year ended December 31, 2016. For the period, the company reported net interest income of HKD 2,636.8 million against HKD 2,481.1 million a year ago. Operating profit was HKD 2,410.4 million against HKD 2,345.7 million a year ago. Profit after tax was HKD 1,913.0 million against HKD 1,902.3 million a year ago. Total comprehensive income attributable to equity holders was HKD 2,675.9 million against HKD 1,833.3 million a year ago, mainly due to the considerable mark-to-market gain on the shares of Bank of Shanghai. Return on average equity was 8.1% against 8.6% a year ago. For 2017, the company anticipates an improvement on net interest income and margin as interest rates rise.

Hong Kong Life Insurance Reportedly To Be Put Up For Sale

Hong Kong Life Insurance Limited may reportedly be put up for sale by Asia Insurance Company Limited, Chong Hing Bank Limited, OCBC Wing Hang Bank Limited, Shanghai Commercial Bank Ltd. and Wing Lung Bank Limited. The five owners are working with adviser Nomura Holdings about the future of the company, which may lead to a sale. Great Eastern Holdings is considering bidding for the company.

Shanghai Commercial Bank Ltd. Announces Consolidated Earnings Results for the Year Ended December 31, 2015

Shanghai Commercial Bank Ltd. announced consolidated earnings results for the year ended December 31, 2015. For the year, the company reported net interest income of HKD 2,481,118,000 against HKD 2,517,610,000 a year ago. Operating profit was HKD 2,345,700,000 against HKD 2,302,307,000 a year ago. Profit before income tax was HKD 2,380,841,000 against HKD 2,343,251,000 a year ago. Profit for the year was HKD 1,902,335,000 against HKD 1,900,039,000 a year ago. Net cash flows from operating activities was HKD 19,527,446,000 against HKD 1,426,735,000 a year ago. Purchases of properties and equipment was HKD 326,918,000 against HKD 202,771,000 a year ago. Profit attributable to equity holders of the bank was HKD 1,898,585,000 compared to HKD 1,896,373,000 a year ago.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 20, 2017
Hong Kong Life Insurance Limited
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Tax Management Inc United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Shanghai Commercial Bank Limited, please visit www.shacombank.com.hk. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.