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Industrial And Commercial Bank Of China (Asia)
The Industrial and Commercial Bank of China (Asia), or more commonly known as ICBC (Asia) (Traditional Chinese: 中國工商銀行(亞洲), 工銀亞洲) is a licensed bank incorporated in Hong Kong. It is a subsidiary of the Industrial and Commercial Bank of China. History ICBC acquired Union Bank of Hong Kong (友聯銀行), founded in Hong Kong in 1964, and traded on the Hong Kong Stock Exchange since 1973, on August 21, 2000; ICBC then renamed its acquisition ICBC (Asia) in July 2001. On April 30, 2004, ICBC (Asia) acquired the retail banking business (but not the wholesale banking business) of Fortis Bank Asia HK from Fortis. Fortis Bank Asia became a wholly owned subsidiary of ICBC (Asia) and reverted to its earlier name, Belgian Bank. On October 10, 2005, all Belgian Bank's branches were rebranded as ICBC (Asia). This merger has resulted in ICBC (Asia) rising to the position of being the sixth largest bank on the Hong Kong Stock Exchange, from its former position of tenth. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 2001
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Hong Kong
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Hong Kong
Hong Kong maintains a ''three''-tier system of deposit-taking institutions, i.e. ''licensed'' banks, ''restricted licence'' banks and ''deposit-taking'' companies. They are collectively known as ''authorized institutions'' supervised by the Hong Kong Monetary Authority (HKMA). As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 ''licensed'' banks, 17 ''restricted licence'' banks and 13 ''deposit-taking'' companies in business, constituting a total of 194 ''authorized institutions''. In addition, there are 42 ''local representative offices'' of foreign banks in Hong Kong. Licensed banks Only licensed banks may operate Transactional account, current and Savings account, savings accounts, accept deposits of any size and Maturity (finance), maturity from the public, and pay or collect cheques d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Listing (finance)
In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, subject to conditions. Normally the issuing company is the one that applies for a listing but in some countries an exchange can list a company, for instance because its stock is already being traded via informal channels. Stocks whose market value and/or turnover fall below critical levels may be delisted by the exchange. Delisting often arises from a merger or takeover, or the company going private. Requirements Each stock exchange has its own listing requirements or rules. Initial listing requirements usually include supplying a history of a few years of financial statements (not required for "alternative" markets targeting young firms); a sufficient size of the amount being placed among the general public (the free float), both in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belgian Bank
Belgian may refer to: * Something of, or related to, Belgium * Belgians, people from Belgium or of Belgian descent * Languages of Belgium, languages spoken in Belgium, such as Dutch, French, and German * Ancient Belgian language, an extinct language formerly spoken in Gallia Belgica * Belgian Dutch or Flemish, a variant of Dutch *Belgian French, a variant of French * Belgian horse (other), various breeds of horse * Belgian waffle, in culinary contexts * SS ''Belgian'', a cargo ship in service with F Leyland & Co Ltd from 1919 to 1934 *''The Belgian ''The Belgian'' is a 1917 American silent film directed by Sidney Olcott and produced by Sidney Olcott Players with Valentine Grant and Walker Whiteside in the leading roles. It is not known whether the film currently survives. Plot As descr ...'', a 1917 American silent film See also * * Belgica (other) * Belgic (other) {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortis (finance)
Fortis, formally Fortis N.V./S.A., was a Benelux-centered global financial services group active in insurance, banking and investment management, initially formed in 1990 by a three-way Belgian-Dutch merger and headquartered in Brussels. It grew rapidly through multiple acquisitions, and in 2007 was the 20th largest financial services business in the world by revenue. It was listed on the Euronext Brussels, Euronext Amsterdam, and Luxembourg stock exchanges. Fortis encountered severe problems in the financial crisis of 2008, not least as a consequence of participating in 2007 in the joint acquisition of ABN AMRO together with Royal Bank of Scotland Group and Banco Santander. It received an emergency bailout from the governments of Belgium and the Netherlands and was broken up soon thereafter. As a consequence: * Fortis Bank Nederland was nationalised by the Dutch government and merged in July 2010 with ABN AMRO's former Dutch operations, which had not yet been integrated with Fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortis Bank Asia HK
Fortis may refer to: Business * Fortis AG, a Swiss watch company * Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock * Fortis Healthcare, a chain of hospitals in India * Fortis Inc., a Canadian utility holding company * Fortis Group, a defunct banking, financial services, and insurance company, based in Belgium and The Netherlands or their successors: ** Ageas, formed from the insurance operations of Fortis ** ASR Nederland, formed from the Dutch insurance operations of Fortis ** BNP Paribas Fortis, formed from the Belgian banking operations of Fortis, now owned by BNP Paribas ** ABN AMRO, formed from the Netherlands banking operations of Fortis, now owned by the Dutch government People * Alberto Fortis (1741–1803), Venetian writer, naturalist and cartographer * Alberto Fortis (musician) (born 1955), Italian singer and songwriter * Alessandro Fortis (1842–1909), Italian politician and prime minister * Jean-Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is reported as the fastest growing stock exchange in Asia. The stock exchange is owned (through its subsidiary Stock Exchange of Hong Kong Limited) by Hong Kong Exchanges and Clearing Limited (HKEX), a holding company that it also lists () and that in 2021 became world's largest bourse operator in terms of market capitalization, surpassing Chicago-based CME. The physical trading floor at Exchange Square was closed in October 2017. History The Hong Kong securities market can be traced back to 1866, but the stock market was formally set up in 1891, when the Association of Stockbrokers in Hong Kong was established. It was renamed as The Hong Kong Stock Exchange in 1914. By 1972, Hong Kong had four stock exchanges in operation. There were subsequen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer finance, consumer-finance companies, brokerage firm, stock brokerages, investment management, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act, GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the Takeover, acquisit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Union Bank Of Hong Kong
The Union Bank of Hong Kong (Former stock code: )(Traditional Chinese: 香港友聯銀行) was a bank in Hong Kong. It became the Industrial and Commercial Bank of China (Asia) (Traditional Chinese: 中國工商銀行 (亞洲)). The bank was established in Hong Kong in 1964 and was listed on the Hong Kong Stock Exchange in 1973. In 1984, due to negative rumours, there was a bank run causing a great drop in cash flow from HK$2.1 billion to HK$710 million. This resulted in the resignation Resignation is the formal act of leaving or quitting one's office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the expiration of a term, or choos ... of the bank's board of directors. In 1986, the British Hong Kong Government decided to "administratively" take over the bank. Chinese state-owned China Merchants Group acquired the bank in the same year. In 2000, the bank was sold to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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