Hong Nin Savings Bank (

Traditional Chinese A tradition is a belief or behavior (folk custom) passed down within a group or society with symbolic meaning or special significance with origins in the past. A component of cultural expressions and folklore, common examples include holidays or ...

: 康年儲蓄銀行) was a

bank 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 ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

, founded in 1921. The bank went into administration in September 1986 following defaults on several loans related to

shipping Freight transport, also referred as ''Freight Forwarding'', is the physical process of transporting Commodity, commodities and merchandise goods and cargo. The term shipping originally referred to transport by sea but in American English, it h ...

, and was taken over by the colonial

Government of Hong Kong The Government of the Hong Kong Special Administrative Region, commonly known as the Hong Kong Government or HKSAR Government, refers to the executive authorities of Hong Kong SAR. It was formed on 1 July 1997 in accordance with the Sino-Br ...

. Hong Nin was subsequently acquired by First Pacific and became known as

First Pacific Bank First Pacific Bank Limited was a bank based in Hong Kong. It was a wholly owned subsidiary of the investment holding company FPB Bank Holding Company Limited (FPB Bank Holdco). Its headquarters were in the First Pacific Bank Centre in Wan Cha ...

, now () a part of the Bank of East Asia.

References

* Feng, Bangyan; (2002). A Century of Hong Kong Financial Development. Joint Publishing Hong Kong. . Defunct banks of Hong Kong Bank of East Asia Banks established in 1921 Banks disestablished in 1986 {{asia-bank-stub