SBA marks centennial

THE Shanghai Banking Association, a non-profitable and non-governmental industry organization, celebrated its centennial yesterday.

The SBA, whose members are banks and non-banking financial institutions, is committed to building itself into a highly professional and international trade body by practising self-discipline, protecting rights, and offering services to members. As of the end of June, the SBA has 222 members which include banks, trust companies and financial leasing companies.

It was founded as the Shanghai Bankers’ Association in 1918.

At the end of the 1990s, as China’s reform of its financial industry gathered pace, Shanghai saw a rising number of foreign and domestic financial institutions expanding their business. Inter-bank cooperation became closer and more widespread. The bankers’ body was then renamed the Shanghai Banking Association.