According to Baidu Encyclopedia, Ningbo Shang Tong Bank Co., Ltd. (hereinafter referred to as "Shang Tong Bank") was established on April 6, 20 12. It is a city commercial bank with independent legal personality, and it is also the first city commercial bank successfully restructured by a foreign bank in China.
The former Ningbo International Bank, the predecessor of Shang Tong Bank, was established on March 20 10, 1993. It is the first foreign bank in Zhejiang Province. Engaged in NRA account business for nearly 20 years, there are many unique products and services in NRA account business. Established cooperative relations with 4 14 banks in 64 countries 152 cities, with excellent assets and no bad assets for 7 consecutive years. Through restructuring, Shang Tong Bank introduced a number of outstanding new shareholders of state-owned enterprises and private enterprises, and became a modern financial enterprise with strong shareholders and diversified ownership subjects. On may 8, 20 12, Shanghai branch was approved to open; On June 29, 20 12, it was approved to start RMB business; On August 2012 14, the Head Office was approved to move to the East New Town; 201September 12, Haishu Sub-branch was approved to open; On September 25th, 20 12, the opening ceremony of the business department of the Head Office and Haishu Branch.