Chekiang First Bank
Chekiang First Bank was a bank in Hong Kong. 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.
浙江第一銀行 | |
Formation | 1907 |
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Extinction | 2004 |
Type | Bank |
Location |
Chekiang First Bank | |||||||||
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Traditional Chinese | 浙江第一銀行 | ||||||||
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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 (Chinese: 中華民國浙江銀行).
- 1912: Restructured as the Chekiang Provincial and Industrial Bank (Chinese: 浙江地方實業銀行).
- 1923: Li Meng converted the bank's Shanghai branch into the Chekiang Industrial Bank (Chinese: 浙江實業銀行), 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 (Chinese: 浙江第一商業銀行).[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]
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References
- Zhaojin, Ji (2003). A History of Modern Shanghai Banking: The Rise and Decline of China's Financial Capitalism. Routledge (published 2016). pp. 114, 116–118. ISBN 9781317478072. LCCN 2002029407 – via Google Books.
- 浙江第一银行 (Chinese Version)
- Industry consolidation
- Wing Hang, Chekiang First Bank complete merging
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