History
The bank was founded in 1937 in Guangzhou, and opened its first branch in Macau in 1941. It was incorporated as a banking company in 1960.
Irving Trust acquired a majority stake in 1973, but when Irving Trust merged with Bank of New York in 1988, the latter gradually started to sell down its stake in Wing Hang. As of 2005, the Bank of New York owns 20% of Wing Hang Bank.
Wing Hang acquired Chekiang First Bank in 2003 for HK$4.8 billion. At the time, Wing Hang had 27 branches in Hong Kong and 11 branches in Macau through its Macau subsidiary. It also had a branch office in Shenzhen and representative offices in Guangzhou and Shanghai. As of 31 December 2002, Wing Hang had total assets of HK$57.1 billion.
In 2010, Wing Hang Bank was allowed to issue UnionPay debit cards to its mainland customers. At that time, Wing Hang Bank (China) had already upgraded its representative offices to full branches (adding a branch in Zhuhai). It also had added sub-branches to its branches in Shenzhen, Foshan, Guangzhou, and Shanghai.
Read more about this topic: Wing Hang Bank
Famous quotes containing the word history:
“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)
“We may pretend that we’re basically moral people who make mistakes, but the whole of history proves otherwise.”
—Terry Hands (b. 1941)
“He wrote in prison, not a History of the World, like Raleigh, but an American book which I think will live longer than that. I do not know of such words, uttered under such circumstances, and so copiously withal, in Roman or English or any history.”
—Henry David Thoreau (1817–1862)