Timeline
1970 - Established as Sun Hung Kai Finance Company.
1982 - Sun Hung Kai Finance was renamed Sun Hung Kai Bank after receiving a multi-branch license.
1985 - Arab Banking Corporation ("ABC") acquired 75% of the Bank, and the Fung family retained 25%.
1986 - The Bank was renamed International Bank of Asia (IBA).
1990 - ABC purchased the remaining 25% and IBA became a wholly owned subsidiary of ABC until 1993.
October 1993 - China Everbright Holdings acquired a 20% shareholding of IBA.
November 1993 - IBA listed on the Stock Exchange of Hong Kong.
November 1996 - IBA became the first bank in Hong Kong to receive a full rating from Standard and Poor's (S&P). Awarded A-3, BBB ratings by S&P.
Fubon Financial Holding Co., Ltd’s Major Shareholding Acquisition of IBA
December 2002 - IBA’s controlling shareholder Arab Banking Corporation announced a possible disposal of its stake in IBA.
September 2003 - Fubon Financial Holding Co., Ltd. proposed to acquire the whole of the issued share capital of IBA.
February 2004 - Fubon Financial Holding Co., Ltd. acquired a 55% stake in IBA from Arab Banking Corporation.
March 2004 - Fubon Financial Holding Co., Ltd made a general offer to acquire the remaining stakes in IBA, namely the 20% shareholding of the China Everbright Group and 25% from public shareholders.
April 2004 - Fubon Financial Holding Co., Ltd. acquired China Everbright’s 20% and became a 75% shareholder of IBA.
April 6, 2005 - The Bank changed its name to Fubon Bank (Hong Kong) Limited.
September 6, 2005 - Standard and Poor’s upgraded the Bank’s credit ratings from long term BBB and short term A3 to BBB+ and A2 respectively.
Read more about this topic: Fubon Bank (Hong Kong)