Hongkong Chinese Bank

The Hongkong Chinese Bank Limited (HKCB) (Traditional Chinese: 香港華人銀行有限公司) was a bank in Hong Kong. It was owned by HKCB Bank Holding Company Limited (SEHK: 655), which in turn was majority owned by a joint venture company owned by listed companies Lippo China Resources and the China Resources Enterprise. The bank was acquired and merged into CITIC Ka Wah Bank.[1] It was one of the pilot banks in Hong Kong to accept the digital signature of Hongkong Post.[2]

The Hongkong Chinese Bank, Limited
Typesubsidiary
IndustryFinance
Founded10 December 1954 (1954-12-10)
Defunct25 November 2002
SuccessorCITIC Ka Wah Bank
HeadquartersHong Kong
OwnerHKCB Bank Holding (100%)
Parent
HKCB Bank Holding(direct)
Lippo CRE (Financial Services)(ultimate)

History
  • 1954: Hongkong Chinese Bank was founded in Hong Kong.
  • 1998: China Resources Enterprise acquired 50% shares of Lippo CRE (Financial Services) Limited.[3][nb 1][4]
  • January 2002: CITIC Ka Wah Bank acquired Hongkong Chinese Bank for HK$4.2 billion.[5]
  • November 2002: CITIC Ka Wah Bank merged with Hongkong Chinese Bank. The banking business of CITIC Ka Wah Bank was transferred to Hongkong Chinese Bank. CITIC Ka Wah Bank became a financial holding company operating under the name CITIC International Financial Holdings Limited, while Hongkong Chinese Bank's name was changed to CITIC Ka Wah Bank Limited.[6]

Footnotes
  1. Lippo CRE (Financial Services) Limited is the parent company of HKCB Bank Holding Company Limited, which in turn the parent company of the bank.

See others

References
  1. "CITIC Ka Wah Bank Buys Hongkong Chinese Bank for HK$4.2 Billion, Moving into Fourth Place among Hong Kong Listed Banks". Archived from the original on 26 March 2009. Retrieved 17 March 2009.
  2. HKCB Bank-Cert Creates A Secure On-line Banking Environment
  3. Chinese Unit Buys Hong Kong Bank Stake
  4. "CRE will become the controlling shareholder of HKCB with 60.6% stake" (PDF). China Resources Enterprise. 2 July 1998. Retrieved 16 March 2017.
  5. CITIC Ka Wah Bank acquires Hongkong Chinese Bank
  6. Announcement of Hongkong Chinese Bank
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.