HK Tin Hau Electric Road Industrial and Commercial Bank of China - ICBC Asia

The Industrial and Commercial Bank of China (Asia), or more commonly known as ICBC (Asia) (

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 ...

: 中國工商銀行(亞洲), 工銀亞洲) is a licensed bank incorporated in

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 ...

. It is a subsidiary of the

Industrial and Commercial Bank of China Industrial and Commercial Bank of China Limited (ICBC; ) is a Chinese multinational bank. Founded as a limited company on 1 January 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the ...

History

ICBC acquired

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 estab ...

(友聯銀行), founded in Hong Kong in 1964, and traded on the

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 repor ...

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 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 servi ...

business (but not the wholesale banking business) of

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 ...

from Fortis. Fortis Bank Asia became a wholly owned subsidiary of ICBC (Asia) and reverted to its earlier name,

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 langua ...

. 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. In November 2010, the company said it had obtained shareholder approval to take the Hong Kong unit private. It is

delisted 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, su ...

from the Hong Kong Stock Exchange in December 2010.

References

External links

Company website

Company website
Banks of Hong Kong Banks established in 2001 Companies formerly listed on the Hong Kong Stock Exchange Industrial and Commercial Bank of China {{Asia-bank-stub

History

See also

References

External links