Hongkong Chinese Bank

The Hongkong Chinese Bank, Limited
Company 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)

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]

History

  • 1954: Hongkong Chinese Bank was founded in Hong Kong by Sir Sik-nin Chau.[3]
  • 1998: China Resources Enterprise acquired 50% shares of Lippo CRE (Financial Services) Limited.[4][nb 1][5]
  • January 2002: CITIC Ka Wah Bank acquired Hongkong Chinese Bank for HK$4.2 billion.[6]
  • 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.[7]

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. ^ Growing with Hong Kong: The University and Its Graduates : the First 90 Years. Hong Kong University Press. 2002. p. 177.
  4. ^ Chinese Unit Buys Hong Kong Bank Stake
  5. ^ "CRE will become the controlling shareholder of HKCB with 60.6% stake" (PDF). China Resources Enterprise. 2 July 1998. Retrieved 16 March 2017.[permanent dead link‍]
  6. ^ CITIC Ka Wah Bank acquires Hongkong Chinese Bank
  7. ^ Announcement of Hongkong Chinese Bank[permanent dead link‍]