Hongkong Chinese Bank Explained

The Hongkong Chinese Bank, Limited
Type:	subsidiary
Defunct:	25 November 2002
Location:	Hong Kong
Industry:	Finance
Owner:	HKCB Bank Holding (100%)

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 (HKEX:), 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] [5] [6]}
• January 2002: CITIC Ka Wah Bank acquired Hongkong Chinese Bank for HK$4.2 billion.^[7]
• 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.^[8]

See others

• CITIC Ka Wah Bank
• CITIC International Financial Holdings
• Macau Chinese Bank

Notes and References

1. Web site: CITIC Ka Wah Bank Buys Hongkong Chinese Bank for HK$4.2 Billion, Moving into Fourth Place among Hong Kong Listed Banks . 17 March 2009 . https://web.archive.org/web/20090326002512/http://www.citickawahbank.com/eng/news/press/p011101.htm . 26 March 2009 . dead .
2. http://www.hongkongpost.gov.hk/news/press/17_c.html 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. https://query.nytimes.com/gst/fullpage.html?res=9C06E4D7143EF93AA25755C0A961958260 Chinese Unit Buys Hong Kong Bank Stake
5. Lippo CRE (Financial Services) Limited is the parent company of HKCB Bank Holding Company Limited, which in turn the parent company of the bank.
6. Web site: CRE will become the controlling shareholder of HKCB with 60.6% stake. 2 July 1998. 16 March 2017. China Resources Enterprise. PDF.
7. https://web.archive.org/web/20090201135428/http://atimes.com/bizasia/DA22Aa01.html CITIC Ka Wah Bank acquires Hongkong Chinese Bank
8. http://202.66.146.82/listco/hk/cifh/announcement/a020517.pdf Announcement of Hongkong Chinese Bank