Hang Seng Bank
Hang Seng Bank Limited (Chinese: 恒生銀行有限公司) (SEHK: 0011, OTCBB: HSNGY) is the second largest bank in Hong Kong. It is a listed company but it is majority owned (62.14% equity interest) by the HSBC Group via The Hongkong and Shanghai Banking Corporation. Hang Seng is also one of the constituent shares of the Hang Seng Index. The current vice-chairman and CEO is Margaret Leung Ko May Yee. Former CEO Vincent Cheng has been appointed to be the Chairman of the Hongkong and Shanghai Banking Corporation, and took up the post on May 25, 2005.[1] Its headquarters are in Central.[2]
History
- 1933 Hang Seng opens as a simple money-changing shop in Hong Kong.
- 1952 Hang Seng becomes a limited company engaged in commercial banking.
- 1960 Hang Seng Bank becomes a public company.
- 1965 Hang Seng Bank suffered a bank run that depleted approximately one-fourth of its deposits. The Hongkong and Shanghai Banking Corporation (HSBC) acquires 51% of Hang Seng Bank at HKD 51 million.
- 1972 Hang Seng Bank lists on the Hong Kong Stock Exchange.
- 1985 Hang Seng Bank opens a representative office in Shenzhen, in the PRC.
- 1995 Hang Seng Bank opens its first branch on the Mainland, in Guangzhou.
- 1997 Hang Seng Bank opens a branch in Shanghai.
- 2003 Hang Seng Bank opens a branch each in Nanjing and Macau.
- 2004 Hang Seng Bank acquires 15.98% of Industrial Bank (China), in Fujian, and opens a branch in Fuzhou.
- 2005 Hang Seng Bank upgrades its Beijing representative office to a branch.
- 2007 Hang Seng Bank (China) Company Limited started operations.
See also
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References
External links
