new headquarters tower. The expected gross space will increase to 140,000 square feet. The new tower opened in Sep 2016 including opening of its flagship retail branch at the basement of the tower. Services The Shanghai Commercial Bank offers corporate and retail banking services and products including deposits, loans, remittances, foreign exchange, trade finance, securities trading, wealth management services, credit cards, and insurance, amongst others. The bank also offers telephone banking and electronic banking services as a fast and convenient means to serve individual and corporate clients respectively. Moreover, the Bank has been issuing floating rate certificates of deposit which were well received by the market since early 1994. Branches At present, Shanghai Commercial Bank has over 50 branches across Hong Kong, China, United Kingdom and United States. United Kingdom There is one branch setup in London since 1980 providing banking services to individuals living in UK and companies incorporated in UK or outside UK. United States There are 3 branches in the following cities: They provide banking services to individuals living in US and to companies incorporated in US or outside US, and have commenced the services since 1973. New York San Francisco Los Angeles Financial Position and Strategic Outlook 2009 Financial Position and 2010 Outlook The consolidated profit attributable to shareholders, in 2009, was HK$1,336 million, representing a gain of 12.7 percent. The increase was primarily due to the substantially lower impairment allowances, positive contributions from all the jointly controlled entities, improved fee income from securities related business and treasury operation. The return on average total assets and return on average equity stood at 1.2 percent and 8.7 percent respectively. Capital adequacy ratio remained strong at 19 percent, while the liquidity ratio was 55 percent. The additional compensation made for the Lehman Brothers Minibonds Repurchase Scheme had a negative impact on the Bank's cost-to-income ratio and it increased to 43.7 percent. Excluding the additional compensation, the ratio would have been 34.9 percent; in 2008, it was 34.3 percent. The bank is obtaining the necessary approval to upgrade the Shanghai representative office to full branch status. Also, the bank is committed to the “Green Channel”, a convenient one-stop platform of premium banking services in the Greater China region, for the VIP customers of the three banks: Shanghai Commercial Bank in Hong Kong, Bank of Shanghai on Mainland China and The Shanghai Commercial & Savings Bank in Taiwan. The redevelopment