# Bank Of Shanghai
**Bank of Shanghai** (上海银行股份有限公司, often abbreviated BOSC) is a Shanghai-headquartered city commercial bank formed in 1996 from 98 Shanghai urban credit cooperatives and listed on the [Shanghai Stock Exchange](https://www.edgepedia.org/shanghai-stock-exchange) main board in November 2016 under the code 601229. It is one of China's 21 domestic systemically important banks (D-SIBs) and ranked 66th globally by [Tier 1 capital](https://www.edgepedia.org/tier-1-capital) in The Banker's 2025 Top 1000 World Banks, with total assets of RMB 3.31 trillion at the end of 2025.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF)
It is a different institution from **Shanghai Pudong Development Bank** (SPD Bank), a Shanghai-headquartered national joint-stock commercial bank. SPD Bank reported total assets of RMB 5,703.973 billion at end-2025, roughly 1.7 times Bank of Shanghai's RMB 3,308.752 billion; Bank of Shanghai's lending remains concentrated in its home city and region.[3](https://star.sse.com.cn/disclosure/listedinfo/announcement/c/new/2026-03-31/600000_20260331_6DF0.pdf) • [1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF)
| Key fact | Detail |
|---|---|
| Founded / listed | Registered 30 January 1996 from 98 urban credit cooperatives; SSE main board listing November 2016, code 601229[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) |
| Size (end-2025) | Total assets RMB 3,308,751.73 million (+2.54%); loans RMB 1,440,809.98 million; deposits RMB 1,734,411.86 million[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Profitability (2025) | Operating income RMB 54,761.02 million (+3.35%); net profit attributable to shareholders RMB 24,193.41 million (+2.69%); ROE 9.69%[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Margin pressure | Net interest margin 1.54% (2022) → 1.34% (2023) → 1.17% (2024) → 1.16% (2025)[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Asset quality | NPL ratio 1.18% at end-2024 and end-2025; provision coverage fell from 269.81% (2024) to 244.94% (2025)[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Capital | End-2025 CET1 10.65%, Tier 1 11.09%, total CAR 14.00%[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Ownership | No controlling shareholder; largest shareholder Shanghai Lianhe Investment and related parties hold 14.98% (end-2025)[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
| Global rank | 66th by Tier 1 capital, The Banker Top 1000 (2025), up one place from 2024[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) |
## History and ownership
The bank was established on 30 January 1996 on the basis of 98 [Shanghai](https://www.edgepedia.org/shanghai) urban credit cooperatives and the city credit cooperative union, initially named Shanghai City Cooperative Bank (上海城市合作银行); the [People's Bank of China](https://www.edgepedia.org/peoples-bank-of-china) approved its renaming to Bank of Shanghai Co., Ltd. on 16 July 1998.[4](https://bank.hexun.com/upload/P020151217492707341460.pdf) The bank's Hong Kong subsidiary dates the founding to 29 December 1995, a discrepancy with the registration date in its own annual reports and prospectus.[5](https://bankofshanghai.com.hk/en/About/)
Foreign strategic investors shaped its governance early. The [International Finance Corporation](https://www.edgepedia.org/international-finance-corporation), the World Bank's private investment arm, took a 5% stake in 1999 for US$22 million, its first investment in China's banking sector, and obtained board approval to raise it to 7% for US$25 million.[6](http://edition.cnn.com/2001/BUSINESS/12/28/hsbc/) • [7](https://www.scmp.com/article/293359/ifc-plans-role-model-stake-bank-shanghai) • [8](https://www.reuters.com/article/markets/funds/ifc-says-looking-for-new-investor-in-bank-of-shanghai-idUSL3E7JB2B0/) In December 2001 HSBC agreed to take a minority stake, becoming the first foreign commercial bank to buy into a mainland Chinese bank; at that time the bank, with US$11.6 billion in assets at end-2000, was owned mainly by the Shanghai municipal government and restricted to operating within Shanghai.[6](http://edition.cnn.com/2001/BUSINESS/12/28/hsbc/) By 2011, as the bank prepared for an IPO, IFC had sold its 7% stake to [China Investment Corporation](https://www.edgepedia.org/china-investment-corporation), the sovereign wealth fund, and HSBC planned to dispose of its 8% stake.[8](https://www.reuters.com/article/markets/funds/ifc-says-looking-for-new-investor-in-bank-of-shanghai-idUSL3E7JB2B0/)
Today the bank has no controlling shareholder or actual controller. The largest shareholder, Shanghai Lianhe Investment, and its related parties held a combined 14.93% at end-2024 and 14.98% at end-2025.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) In April 2025 the bank signed a new round of strategic cooperation agreement with its strategic investor [Banco Santander](https://www.edgepedia.org/banco-santander).[9](https://baike.baidu.com/en/item/Bank%20of%20Shanghai%20Co.,%20Ltd./21737)
## Business and operations
The bank's lending remains concentrated in its home region: Shanghai-region loans were RMB 674.982 billion at end-2024, 48.02% of total customer loans, and over 80% of its branches are in the Yangtze River Delta.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) It operates tier-1 branches in Shanghai, Ningbo, Nanjing, Hangzhou, Tianjin, Chengdu, Shenzhen, Beijing, and Suzhou, plus second-tier branches in Wuxi, Shaoxing, Nantong, Changzhou, Yancheng, Wenzhou, Qianhai, Shenshan, and Taizhou, and was among the first approved for a Shanghai free trade zone branch.[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) At end-H1 2026 it had 361 branches and 386 self-service points.[10](http://infonotice.sylapp.cn/LC_NotTextAnnouncement/2026/08/28/841175119150.PDF)
**Business mix.** Deposits at end-2024 comprised corporate deposits of RMB 1,112.490 billion (+2.94%) and personal deposits of RMB 597.542 billion (+6.82%).[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) Fee and commission net income fell 19.46% in 2024 to RMB 3.959 billion while other non-interest net income rose 57.75% to RMB 16.541 billion.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) The bank holds the No.1 market share of pension customers in Shanghai, and its new publicly offered fund custody products ranked first among city commercial banks.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) Small and medium enterprises are a core client segment: its credit guarantee loans for small enterprises hold over 50% market share in Shanghai.[9](https://baike.baidu.com/en/item/Bank%20of%20Shanghai%20Co.,%20Ltd./21737)
**Subsidiaries.** The group includes BOSC Hong Kong (上银香港) and its subsidiary Shangyin International (上银国际), Shangyin Fund (上银基金) and Shangyin Wealth Management (上银理财), plus a sponsored consumer finance company, four rural banks and village banks.[2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) • [5](https://bankofshanghai.com.hk/en/About/)
## By the numbers
| Indicator | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets (RMB bn) | n/a | n/a | 3,226.655 (+4.57%) | 3,308.752 (+2.54%) |
| Net profit attributable (RMB mn) | n/a | n/a | 23,560 (+4.50%) | 24,193.41 (+2.69%) |
| Net interest margin | 1.54% | 1.34% | 1.17% | 1.16% |
| Weighted-average ROE | n/a | 10.36% | 10.01% | 9.69% |
| NPL ratio | n/a | 1.21% | 1.18% | 1.18% |
| Provision coverage | n/a | 291.61% | 269.81% | 244.94% |
Sources: 2024 annual report and 2025 annual report summary.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF)
Capital adequacy at end-2024 was CAR 14.21%, Tier 1 11.24%, and CET1 10.35%, each up roughly 0.82 to 0.83 percentage points from end-2023; at end-2025 CET1 was 10.65%, Tier 1 11.09%, and total CAR 14.00%, with the cost-income ratio improving to 23.31%.[1](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF) • [2](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF) The liquidity coverage ratio was 167.73% in the latest 2024 reporting period.[11](https://bosc.cn/zh/jrsh/tzzgx/jgzb/202504/P020250424557271952278.pdf) In the first quarter of 2026, revenue was RMB 14.18 billion (+4.25%) with attributable net profit of RMB 6.33 billion (+0.66%).[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8)
**Listing and market value.** The bank listed on the Shanghai Stock Exchange on 16 November 2016 at an issue price of RMB 17.77 per share, with a first-day opening price of RMB 21.32 and 600.45 million shares issued.[13](https://webf10.gw.com.cn/SH/B7/SH601229_B7.html) At the 27 April 2026 close the share price was 9.64 yuan, giving a market capitalization of about RMB 137 billion.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8)
## How it compares with other Chinese banks
Among Yangtze River Delta city commercial banks, Bank of Shanghai's 2024 net profit ranked third, behind Ningbo Bank and the Hangzhou/Nanjing bank peers.[14](https://www.163.com/dy/article/JV839BVH0550DHA5.html) By assets it fell out of the top three listed city commercial banks after being surpassed by [Bank of Ningbo](https://www.edgepedia.org/bank-of-ningbo), and its asset growth decelerated from 8.49% in 2022 to 2.54% in 2025.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8)
**Mandate and regulation.** City commercial banks in China commonly have local governments as majority controlling shareholders, a governance feature that distinguishes the category from the big state-owned banks; research finds that weaker financial awareness of local governments is linked to steadier bank operation.[15](https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0285588&type=printable) A 2025 study of 250 Chinese banks found that increased municipal government fiscal expenditure enhances local banks' market power, primarily by improving local firm performance, industrial upgrading, and digital advancement.[16](https://ideas.repec.org/a/eee/chieco/v94y2025ipas1043951x25001889.html) Bank of Shanghai itself departs from the typical pattern in having no controlling shareholder, and its D-SIB designation places it under the same systemically important bank framework as the largest national banks; its core Tier 1 ratio of 10.73% in 1Q26 implied a buffer of about 200 basis points over the minimum for Bucket 1 D-SIBs.[17](https://www.xxquant.com/en/institution/institutional-research/cace94dae6c29b9cf52ed33c4968d084)
## Risks and asset quality
**Property exposure.** The real estate sector NPL ratio surged from 0.98% in 2024 to 2.91% at end-2025, while the corporate loan NPL ratio fell to 1.35% and the personal loan NPL ratio rose 0.20 percentage points to 1.34%; the overall NPL ratio held flat at 1.18%.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8) The Hong Kong investment-banking unit suffered years of heavy losses stemming from China's property debt crisis.[18](https://www.caixinglobal.com/2026-08-20/bank-of-shanghai-takes-direct-control-of-hong-kong-investment-banking-unit-102475870.html)
**Margin compression.** Both net interest margin and net interest spread fell to 1.16% at end-2025, with loan yields down 0.57 percentage points year on year; President Shi Hongmin projected further slight NIM narrowing in 2026.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8)
**H1 2026 deterioration.** At end-H1 2026 the NPL ratio rose 0.24 percentage points from end-2025 to 1.42%, and provision coverage fell to 198.25%; special-mention loans were 1.77% (down 0.34pp) and the overdue loan ratio 1.50% (down 0.15pp).[19](https://finance.biggo.com/news/62f38ef5-ad05-4915-a025-61e44fe71ac0)
## Recent developments
**Leadership and organization.** The legal representative and chairman is Gu Jianzhong (顾建忠) and the general manager is Shi Hongmin (施红敏).[13](https://webf10.gw.com.cn/SH/B7/SH601229_B7.html) The bank restructured, creating six new front-office tier-one headquarters departments, including Tech Finance, Investment Banking, Small and Micro Finance, and Retail Credit, and dismantled three sub-branches and 16 district-level branches in Shanghai for direct headquarters management.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8) On 27 April 2026 Chairman Gu announced the bank will add a net 5,000 employees over five years, from about 13,000 to 18,000, against the industry trend of headcount reduction.[12](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8) The company profile lists 14,036 employees, a figure whose date is unclear and which conflicts with the 13,000 baseline of the expansion plan.[13](https://webf10.gw.com.cn/SH/B7/SH601229_B7.html)
**Dividends and results.** The FY2025 payout ratio rose to 31.6%, above 30.1% in 2023 and 31.2% in 2024, with a dividend yield of about 5.3%.[17](https://www.xxquant.com/en/institution/institutional-research/cace94dae6c29b9cf52ed33c4968d084) Full-year 2025 cash dividends totalled RMB 7,388,687,058.12, comprising a final dividend of RMB 0.22 per share paid on 8 June 2026 plus an interim dividend of RMB 4,262,699,874.90.[10](http://infonotice.sylapp.cn/LC_NotTextAnnouncement/2026/08/28/841175119150.PDF) The board approved a 2026 interim dividend of RMB 3.00 per 10 shares, about RMB 4.26 billion, 32.05% of net profit attributable to ordinary shareholders.[10](http://infonotice.sylapp.cn/LC_NotTextAnnouncement/2026/08/28/841175119150.PDF) • [19](https://finance.biggo.com/news/62f38ef5-ad05-4915-a025-61e44fe71ac0) Net interest income returned to growth, up 10% year on year in 4Q25 and 5% in 1Q26, ending a previous contraction trend, while fee income fell 17% year on year in 1Q26.[17](https://www.xxquant.com/en/institution/institutional-research/cace94dae6c29b9cf52ed33c4968d084) In August 2026 the Shanghai bureau of the [National Financial Regulatory Administration](https://www.edgepedia.org/national-financial-regulatory-administration) approved the bank's acquisition of a 100% stake in BOSC International, its Hong Kong investment-banking arm, previously held through another Hong Kong subsidiary.[18](https://www.caixinglobal.com/2026-08-20/bank-of-shanghai-takes-direct-control-of-hong-kong-investment-banking-unit-102475870.html)
## References
1. [上海银行 2024 年年度报告（全文）, cninfo](http://static.cninfo.com.cn/finalpage/2025-04-25/1223286930.PDF)
2. [上海银行 2025 年度报告摘要, cninfo](http://static.cninfo.com.cn/finalpage/2026-04-24/1225173725.PDF)
3. [上海浦东发展银行股份有限公司 2025 年年度报告摘要, SSE](https://star.sse.com.cn/disclosure/listedinfo/announcement/c/new/2026-03-31/600000_20260331_6DF0.pdf)
4. [Bank of Shanghai IPO prospectus (pre-disclosure draft, 2015)](https://bank.hexun.com/upload/P020151217492707341460.pdf)
5. [About Us, Bank of Shanghai (Hong Kong)](https://bankofshanghai.com.hk/en/About/)
6. [HSBC to buy into Shanghai, CNN/Reuters (28 Dec 2001)](http://edition.cnn.com/2001/BUSINESS/12/28/hsbc/)
7. [IFC plans role model with stake in Bank of Shanghai, SCMP](https://www.scmp.com/article/293359/ifc-plans-role-model-stake-bank-shanghai)
8. [IFC says looking for new investor in Bank of Shanghai, Reuters](https://www.reuters.com/article/markets/funds/ifc-says-looking-for-new-investor-in-bank-of-shanghai-idUSL3E7JB2B0/)
9. [Bank of Shanghai Co., Ltd., Baidu Baike](https://baike.baidu.com/en/item/Bank%20of%20Shanghai%20Co.,%20Ltd./21737)
10. [Bank of Shanghai 2026 Interim Report](http://infonotice.sylapp.cn/LC_NotTextAnnouncement/2026/08/28/841175119150.PDF)
11. [上海银行 2024 年度第三支柱信息披露报告, bosc.cn](https://bosc.cn/zh/jrsh/tzzgx/jgzb/202504/P020250424557271952278.pdf)
12. [Bank of Shanghai expansion plan and 2025 results analysis, BigGo Finance](https://finance.biggo.com/news/MQIS0p0BNl__-4_GgPK8)
13. [上海银行 (SH601229) company profile, gw.com.cn](https://webf10.gw.com.cn/SH/B7/SH601229_B7.html)
14. [上海银行2024年年报出炉！净利润位列长三角城商行第三名, NetEase](https://www.163.com/dy/article/JV839BVH0550DHA5.html)
15. [Private capital holding, financial awareness of government and steadying operation of banks, PLOS ONE](https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0285588&type=printable)
16. [How government fiscal decentralization shapes bank competition dynamics, China Economic Review](https://ideas.repec.org/a/eee/chieco/v94y2025ipas1043951x25001889.html)
17. [Hilo Research: Bank of Shanghai 4Q25 and 1Q26 results interpretation](https://www.xxquant.com/en/institution/institutional-research/cace94dae6c29b9cf52ed33c4968d084)
18. [Bank of Shanghai Takes Direct Control of Hong Kong Investment-Banking Unit, Caixin Global](https://www.caixinglobal.com/2026-08-20/bank-of-shanghai-takes-direct-control-of-hong-kong-investment-banking-unit-102475870.html)
19. [Bank of Shanghai H1 2026 results, BigGo Finance](https://finance.biggo.com/news/62f38ef5-ad05-4915-a025-61e44fe71ac0)
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Banks (institutions and by country) › Banks in Asia-Pacific › Chinese banks*
*Initially written Oct 10, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license