Hong Nin Savings Bank Explained

Hong Nin Savings Bank
Native Name:康年儲蓄銀行
Formation:1921
Dissolved:1986
Vat Id:(for European organizations) -->
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T:康年儲蓄銀行
Y:Hōng nìhn chyúh chūk ngàhn hòhng
J:Hong1 nin4 cyu5 cuk1 ngan4 hong4
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Hong Nin Savings Bank (Traditional Chinese: 康年儲蓄銀行) was a bank in Hong Kong, founded in 1921.

In 1986, the bank had four branches and deposits of about HK$300m (US$38m). The bank was taken over by the colonial Government of Hong Kong, in 1986, due to defaults on several loans related to shipping and dwindling deposits.[1]

In 1987, Hong Nin was acquired by First Pacific and renamed it to First Pacific Bank.[2] [3] [4]

References

  1. Book: The Glasgow Herald . The Glasgow Herald . en.
  2. Book: Manila Standard . Manila Standard . en.
  3. Book: Manila Standard . Manila Standard . en.
  4. Book: Brown, Rajeswary Ampalavanar . The Rise of the Corporate Economy in Southeast Asia . 2007-01-24 . Routledge . 978-1-134-15754-9 . en.