Hang Seng Bank
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| Hang Seng Bank Limited | |
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| Type | Public (SEHK: 0011, OTCBB: HSNGY) |
| Founded | 1933 |
| Headquarters | Hong Kong SAR |
| Key people | Raymond Ch'ien Kuo Fung, Chairman Raymond Or Ching Fai, Vice-chairman and CEO |
| Industry | Finance and Insurance |
| Products | Financial Services |
| Employees | 7,200 |
| Parent | HSBC Group |
| Website | www.hangseng.com |
Hang Seng Bank Limited (traditional 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 Raymond Or Ching-fai. Mr. Vincent Cheng has been appointed to be the Chairman (designate) of The Hongkong and Shanghai Banking Corporation. He took up the post on May 25 2005.
[edit] History
- 1935 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 The Hongkong and Shanghai Banking Corporation (HSBC) acquires 51% of Hang Seng Bank.
- 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.
[edit] See also
[edit] External links
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