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
Founded in 1950
Shanghai Commercial Bank Announces Consolidated Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
Apr 26 17
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
Jun 10 16
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
Apr 20 16
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.