Group History
Historically, the Shanghai Commercial Bank was originally founded in Shanghai in 1915 under the leadership of Mr. K.P. Chen (1881–1976), a graduate of the University of Pennsylvania's Wharton School of Finance. The bank expanded in the late 1920s and early 1930s, endured the period of Japanese aggression, and re-established itself in Taiwan and Hong Kong after the rise of Communism in mainland China in late 1949.
The Shanghai Commercial Bank was established in Hong Kong in 1950. It is majority owned by the Shanghai Commercial and Savings Bank of Taiwan, which itself was only allowed to re-establish its head office in Taipei in 1954. Both parts of the bank, in Hong Kong and Taiwan, rebuilt themselves from the 1960s-1980s as both economies prospered. Today, the SCB has re-established itself in Shanghai with a stake in the Bank of Shanghai.
It also advertises, to an extent, its link to Bank of Shanghai and SCSB with the slogan "Bank of Shanghai in 3 regions on both sides of the Strait".
Read more about this topic: Shanghai Commercial Bank
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