Wing Lung Bank

CMB Wing Lung Bank (Chinese: 招商永隆銀行) (former stock no: SEHK: 96) is a bank based in Hong Kong. As of December 2018, the Bank has 35 branches in Hong Kong, 4 branches in Mainland China, 1 branch in Macau and 2 overseas branches, located respectively in Los Angeles and San Francisco in united States.[1]

CMB Wing Lung Bank
招商永隆銀行
IndustryBanking
Founded25th February 1933
FounderWU Yee-Sun
Headquarters45 Des Voeux Road, Central,
Hong Kong
Key people
TIAN Huiyu （Chairman）
ZHU Qi （Chief Executive Officer）
ServicesFinancial services
HKD6.5 billion (2018)[1]
HKD3.2 billion (2018)[1]
Total assets HKD314 billion (2018)[1]
Number of employees
 1,935 (2018)[1]
ParentChina Merchants Bank Co., Ltd.
Websitehttp://www.cmbwinglungbank.com

The bank was founded in 1933 by Dr. Wu Yee-Sun (Chinese: 伍宜孫), who owned a majority stake in the bank. It was listed in Hong Kong from 1980 to 2009 until it was acquired by China Merchants Bank. It currently employs over 1,900 people and has assets over HKD 300 billion.

In 2008, China Merchants Bank purchased 53.12 percent of Wing Lung Bank's equity and became the largest shareholder of the bank. Dr. Ma Weihua (China Merchants Bank's President) and Dr. Zhang Guanghua (China Merchants Bank's Vice President) were appointed as the Chairman and Vice Chairman of Wing Lung Bank respectively.[2]

In 2009, China Merchants Bank acquired the remaining shares of Wing Lung Bank, and it became a wholly owned subsidiary of China Merchants Bank. It was delisted from the Hong Kong Stock Exchange after 16 January 2009.[3] In May 2009, Wing Lung Bank adopted the corporate identity of China Merchants Bank.

The Los Angeles branch, located in Alhambra, California, features the largest glass Tile mural in North America, measuring 34.5 feet (10.5 m) tall by 129.5 feet (39.5 m) wide. The mural comprises approximately 1 million pieces of glass tile set in an abstract interpretation designed to reflect the nearby San Gabriel Mountains. The mural received the 2007 Spectrum Award, the top industry award for excellence in tile design and implementation.[4]

References
  1. Wing Lung Bank 2018 Annual Report
  2. China Merchants Bank completes acquisition of Wing Lung Bank
  3. Wing Lung Bank delisted from HKEx
  4. "Largest Glass Tile Mural in America Wins Spectrum's First Prize at the Chicago Coverings Tile and Stone Exposition". Send2Press Newswire. Becoming Tile, LLC. Retrieved 6 October 2016.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.