DBS Bank (Hong Kong) Limited () is a licensed bank incorporated in Hong Kong. It is a subsidiary of

DBS Bank DBS Bank Limited, often known as DBS, is a Singaporean multinational banking and financial services corporation headquartered at the Marina Bay Financial Centre in the Marina Bay district of Singapore. The bank was previously known as The Dev ...

headquartered in

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

and it is also the seventh-largest bank 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 List of cities in China, city and Special administrative regions of China, special ...

by total assets.

History

In 1999, DBS Bank acquired

Kwong On Bank Kwong On Bank Limited (KOB) (former stock code: ) () was a Hong Kong-based bank. It was established in 1935 by Mr Leung Kwai-Yee and later run by his son, Dr. Leung Ding Bong, the President of the former Urban Council of Hong Kong, and Japan-b ...

and formed the

DBS Kwong On Bank Limited Kwong On Bank Limited (KOB) (former stock code: ) () was a Hong Kong-based bank. It was established in 1935 by Mr Leung Kwai-Yee and later run by his son, Dr. Leung Ding Bong, the President of the former Urban Council of Hong Kong, and Japan-ba ...

. In 2001, DBS Bank acquired

Dao Heng Bank Dao Heng Bank Group Limited (former stock code: ) () was a bank holding company in Hong Kong and it had two major subsidiaries before being acquired, Dao Heng Bank Limited and Overseas Trust Bank Limited. Dao Heng Bank Limited was establishe ...

, including its subsidiary,

Overseas Trust Bank Overseas Trust Bank Limited (OTB) () was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972. It was the fourth largest bank in Hong Kong before ...

, from

Guoco Group Guoco Group Limited (, ) is an investment holding company. The principal activities of its subsidiaries and associated companies include investment and treasury management, property development and investment, stock and commodity broking, insurance ...

. In 2003, DBS Bank merged the three banks, DBS Kwong On Bank Limited, Dao Heng Bank and Overseas Trust Bank, to form DBS Bank (Hong Kong).

Mei Foo Branch Incident

On October 5, 2004, DBS Bank (Hong Kong) Limited announced that, during the renovation of its branch in

Mei Foo Sun Chuen Mei Foo Sun Chuen or simply Mei Foo is a large private housing estate in Lai Chi Kok, Kowloon, Hong Kong. Mei Foo Sun Chuen was the first large scale private housing estate in Hong Kong and at the time of completion, the 99-tower complex w ...

, in

Kowloon Kowloon () is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. With a population of 2,019,533 and a population density of in 2006, it is the most populous area in Hong Kong, compared with Hong Kong Island and ...

, when the bank attempted to remove more than 900 empty safety boxes from the branch, 83 safety boxes rented by customers and containing valuables were accidentally removed. The 83 boxes were subsequently sent to a scrapyard and crushed. The bank reported that 36 boxes were recovered, although the valuables contained inside were badly damaged.DBS Bank offers explanation on safety deposit box fiasco SCMP 2004-10-29
/ref> In 2009, the safe deposit box incident was portrayed on TVB television series Born Rich.

Subsidiaries

*DBS Asia Capital Limited *DBS Asset Management (Hong Kong) Limited *DBS Vickers Securities (Hong Kong) Limited *DBS Vickers Securities (Singapore) Private Limited

References

* Feng, Bangyan; (1861). A Century of Hong Kong Financial Development. Joint Publishing Hong Kong. . {{Authority control DBS Bank Banks of Hong Kong Banks established in 1995

History

Mei Foo Branch Incident

Subsidiaries

See also

References