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Business

About The Shanghai Commercial & Savings Bank (SCSB)

Published by Gbaf News

Posted on September 2, 2013

3 min read

· Last updated: June 11, 2018

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The Shanghai Commercial & Savings Bank (SCSB) was founded in Shanghai, China in 1915 with the aspiration of “Service to Society, support for industry, and prosperity to enhance international trade.” SCSB’s initial aims were to encourage savings and to accumulate social capital. Since the founding of SCSB, it has stayed true to the mission of contributing to society and emphasizing talent development. Whatever benefits society is what it commits itself to.

shanghai commercial

shanghai commercial

Therefore, SCSB has spearheaded industry-leading financial services and enjoy robust growth. As of 1931, SCSB became one of the largest privately-run banks in China. In 1927, SCSB establishes the first licensed Travel Agent in China, China Travel Service, a wholly-owned subsidiary that provides convenient travel service to the general public. In 1954, SCSB established a Head Office in Taiwan and formally reopened for business in 1965.
With corporate banking as its core business, SCSB also specializes in foreign exchange, trade finance, small and medium sized enterprise financing services as well as mortgage and wealth management services. To provide well-rounded financial services to our customers, SCSB continues to increase its domestic and overseas service network, engage in the research and development of new financial products and services, continue to cultivate financial and banking professionals and enhance its risk management. It is poised to become “one of the best Chinese Banks across the Taiwan Strait” and a regional commercial bank in Asia.

The Shanghai Commercial & Savings Bank (SCSB) was founded in Shanghai, China in 1915 with the aspiration of “Service to Society, support for industry, and prosperity to enhance international trade.” SCSB’s initial aims were to encourage savings and to accumulate social capital. Since the founding of SCSB, it has stayed true to the mission of contributing to society and emphasizing talent development. Whatever benefits society is what it commits itself to.

shanghai commercial

shanghai commercial

Therefore, SCSB has spearheaded industry-leading financial services and enjoy robust growth. As of 1931, SCSB became one of the largest privately-run banks in China. In 1927, SCSB establishes the first licensed Travel Agent in China, China Travel Service, a wholly-owned subsidiary that provides convenient travel service to the general public. In 1954, SCSB established a Head Office in Taiwan and formally reopened for business in 1965.
With corporate banking as its core business, SCSB also specializes in foreign exchange, trade finance, small and medium sized enterprise financing services as well as mortgage and wealth management services. To provide well-rounded financial services to our customers, SCSB continues to increase its domestic and overseas service network, engage in the research and development of new financial products and services, continue to cultivate financial and banking professionals and enhance its risk management. It is poised to become “one of the best Chinese Banks across the Taiwan Strait” and a regional commercial bank in Asia.

Key Takeaways

  • Founded in Shanghai in 1915, SCSB was built on the ethos of serving society, supporting industry, and enhancing international trade.
  • By the early 1930s, it had grown into one of China's largest private banks and launched China Travel Service as the first licensed travel agent in the country.
  • After relocating its operations, SCSB re-established its head office in Taiwan in 1954 and formally resumed business in June 1965.
  • Today, SCSB focuses on corporate banking, foreign exchange, trade finance, SME financing, mortgages, and wealth management, while expanding its domestic and international network.
  • SCSB continues to embrace innovation and digital transformation, particularly through fintech adoption and enhanced risk management.

References

Frequently Asked Questions

When and where was SCSB founded?
SCSB was founded in Shanghai in 1915 with the mission to serve society, support industry, and promote international trade.
What travel service did SCSB establish?
In 1927, SCSB established the China Travel Service, the first licensed travel agent in China.
When did SCSB relocate and reopen in Taiwan?
SCSB was permitted to set up its head office in Taiwan in 1954 and formally reopened for business in Taipei in June 1965.
What are SCSB’s core services today?
Today SCSB focuses on corporate banking, foreign exchange, trade finance, SME financing, mortgages, and wealth management while expanding its service network and digital offerings.

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