Chekiang First Bank Explained
| Chekiang First Bank |
| Native Name: | 浙江第一銀行 |
| Formation: | 1907 |
| Dissolved: | 2004 |
| Type: | Bank |
| T: | 浙江第一銀行 |
| Y: | Jit gōng daih yāt ngàhn hòhng |
| J: | Zit3 gong1 dai6 jat1 ngan4 hong4 |
| Hide: | yes |
Chekiang First Bank was a bank in Hong Kong incorporated in 1950 by Li Ming. It is now merged to Wing Hang Bank. At the time of the merger with Wing Hang, Chekiang First Bank had 17 branches in Hong Kong, a wholly owned subsidiary in Luxembourg, an agency in San Francisco, and a representative office in Shanghai. As of 31 December 2002, Chekiang First had total assets of HK$27.8 billion. Wing Hang subsequent re-branded all services under the Wing Hang brand.
History
- 1907: Founded under the name Chekiang Provincial and Industrial Bank, with headquarters in Hangzhou.[1]
- 1911: Restructured as Chekiang Bank of the Republic of China .
- 1912: Restructured as the Chekiang Provincial and Industrial Bank .
- 1923: Li Ming converted the bank's Shanghai branch into the Chekiang Industrial Bank, with headquarters in Shanghai, and became its director.
- 1948: Restructured as Chekiang First Bank.
- 1950: Re-established in Hong Kong as Chekiang First Bank of Commerce .[2]
- 1962: Japan's Dai-Ichi Kangyo Bank (now the Mizuho Corporate Bank), acquired a 30% stake in the bank, a stake that eventually it increased to 95%.
- 2003: Acquired by Wing Hang Bank.[3]
- 2004: Merged to Wing Hang Bank.[4]
Notes and References
- Book: Zhaojin . Ji . A History of Modern Shanghai Banking: The Rise and Decline of China's Financial Capitalism . 2003 . . 9781317478072 . 114,116-118 . 2016 . 2002029407 . Google Books.
- http://www.hudong.com/wiki/%E6%B5%99%E6%B1%9F%E7%AC%AC%E4%B8%80%E9%93%B6%E8%A1%8C 浙江第一银行 (Chinese Version)
- http://www.info.gov.hk/hkma/ar2003/english/banking/banking06.htm Industry consolidation
- http://english.peopledaily.com.cn/200408/09/eng20040809_152332.html Wing Hang, Chekiang First Bank complete merging
