THE SHANGHAI COMMERCIAL & SAVINGS BANK (SCSB) OVERSEAS EXPANSION
The Shanghai Commercial & Savings Bank, Ltd. (SCSB) has been active in its pursuit of overseas deployment in line with the globalization of the businesses of its corporate clients and to explore new markets and business opportunities. Upon establishing its first overseas branch in Hong Kong in 2008, SCSB established its Dong Nai Branch in Vietnam in 2011. Subsequently in 2012, its representative office in Bangkok, Thailand came into being and in the same year, SCSB Leasing (China) Co., Ltd. was established through a subsidiary of SCSB.
In 2013, SCSB set up a Cambodia representative office. Additionally, the Shanghai Commercial Bank (SCB), a subsidiary bank in which SCSB owns 57.6% of shares, is one of the most renowned banks in Hong Kong. Aside from operating 44 branches in Hong Kong, SCB also has branches in London, New York, San Francisco, and Los Angeles, along with branches in Shenzhen and Shanghai. SCSB together with SCB operates more than 120 branches worldwide, with service locations throughout Asia, Europe, and the America. SCSB adopts a prudent management approach towards its business, maintaining the principle of “asset safety, sufficient liquidity and capital adequacy”. It continues to establish branches domestically and globally in countries where Taiwanese, Hong Kong and Chinese entrepreneurs conduct business with the goal of shaping the bank into a regional commercial bank in Asia to offer more comprehensive and convenient financial services.