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.

Chekiang First Bank
浙江第一銀行
Formation1907
Extinction2004
TypeBank
Location
Chekiang First Bank
Traditional Chinese浙江第一銀行

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]

References
  1. 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.
  2. 浙江第一银行 (Chinese Version)
  3. Industry consolidation
  4. Wing Hang, Chekiang First Bank complete merging
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