Ho Hong Bank - Timeline

Timeline

• 1917: Lim Peng Siang founded the Ho Hong Bank Limited, opening branches simultaneously in Singapore, and Muar and Malacca in what is now Malaysia. It then opened branches in Ipoh, Kuala Lumpur, Batu Pahat and Penang. Ho Hong rapidly opened branches in Batavia and Palembang in the Dutch East Indies.
• 1923: Branch opened in Hong Kong.
• 1925: Branch opened in Shanghai.
• 1930: CCB, Ho Hong and OCB agree a mutual support pact.
• 1932: The United Kingdom leaves the gold standard and devalues the pound sterling. This leaves Ho Hong and OCB in financial trouble and they approach CCB for help. OCBC is born as the result of the merger of Chinese Commercial, Ho Hong and OCB. Ho Hong and OCB branches in Malaya are converted to OCBC Bank branches.
• 1933: OCBC starts functioning on 2 January 1933. OCBC emerges as the biggest and strongest bank in the Straits Settlements. The Ho Hong and OCB branches in Malaya eventually become OCBC Bank (Malaysia) Bhd.