The same period saw the increasing power of private interests in modern Chinese banking and the concentration of banking capital. In Shanghai, the so-called "southern three banks" (南三行) were established. They were the Shanghai Commercial and Savings Bank (上海商業儲蓄銀行), the National Commercial Bank (浙江興業銀行), and the Zhejiang Industrial Bank (浙江實業銀行). Four other banks, known as the "northern four banks" (北四行) emerged later. They were the Yien Yieh Commercial Bank (鹽業銀行), the Kincheng Banking Corporation (金城銀行), the Continental Bank (大陸銀行), and the China & South Sea Bank (中南銀行). The first three were initiated by current and retired officials of the Beijing government, whilst the last was created by an overseas Chinese.