Industrial and Commercial Bank of China (Canada), formerly The Bank of East Asia (Canada), was founded in 1991; it was the Canadian unit of The Bank of East Asia Group or BEA in Hong Kong. The bank operates 5 branches in Canada and offers retail banking products catering to expatriate Hong Kong Chinese in Canada. The bank operated at Hong Kong Chinese themed malls or areas with large Hong Kong Chinese population. A 70% stake of the bank was sold by former parent Bank of East Asia in January 2010 to Industrial and Commercial Bank of China and on July 2 the bank changed their name to the current. BEA retains a 30% stake as BEA focuses business in Hong Kong. Signage at all Canadian branches were changed to reflect the new ownership. BEA Canada is the second Hong Kong based bank to pull their Canadian operations. Standard Chartered Bank (Hong Kong) sold their Canadian branches and operations to Bank of Montreal and Scotiabank respectively in the 1990s.
Read more about Industrial And Commercial Bank Of China (Canada): Services, Operations, Membership
Famous quotes containing the words industrial, commercial, bank and/or china:
“Dead power is everywhere among us—in the forest, chopping down the songs; at night in the industrial landscape, wasting and stiffening the new life; in the streets of the city, throwing away the day. We wanted something different for our people: not to find ourselves an old, reactionary republic, full of ghost-fears, the fears of death and the fears of birth. We want something else.”
—Muriel Rukeyser (1913–1980)
“The commercial class has always mistrusted verbal brilliancy and wit, deeming such qualities, perhaps with some justice, frivolous and unprofitable.”
—Dorothy Nevill (1826–1913)
“Good resolutions are useless attempts to interfere with scientific laws. Their origin is pure vanity. Their result is absolutely nil. They give us, now and then, some of those luxurious sterile emotions that have a certain charm for the weak.... They are simply cheques that men draw on a bank where they have no account.”
—Oscar Wilde (1854–1900)
“In a country where misery and want were the foundation of the social structure, famine was periodic, death from starvation common, disease pervasive, thievery normal, and graft and corruption taken for granted, the elimination of these conditions in Communist China is so striking that negative aspects of the new rule fade in relative importance.”
—Barbara Tuchman (1912–1989)