Established in 2015, BOSC International posted net losses for five consecutive years through 2025, accumulating a total deficit of HK$2.55 billion. Photo: VCG
Bank of Shanghai Co. is taking direct ownership of its Hong Kong investment banking arm to tighten oversight after the unit suffered years of heavy losses stemming from China’s property debt crisis.
According to a Monday regulatory filing, the Shanghai bureau of the National Financial Regulatory Administration approved the lender’s acquisition of a 100% stake in BOSC International Co. Ltd., previously held through another Hong Kong subsidiary, and ordered the bank to strengthen its consolidated management over the offshore unit.
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