Wing Lung Bank (Chinese: 永隆銀行) (former stock no: SEHK: 0096) is a medium-sized bank based in Hong Kong. As of 2010, it has 39 branches, including one branch in Los Angeles and one branch in the Cayman Islands.
The bank was founded in 1933 by Dr. Wu Yee-Sun (Chinese: 伍宜孫), who owned a majority stake in the bank. It was listed in Hong Kong from 1980 to 2009 until it was acquired by China Merchants Bank. It currently employs 1,600 people and has assets of around HK$117.3 billion.
In 2008, China Merchants Bank purchased 53.12 percent of Wing Lung Bank's equity and became the largest shareholder of the bank. Dr. Ma Weihua (China Merchants Bank's President) and Dr. Zhang Guanghua (China Merchants Bank's Vice President) were appointed to be the Chairman and Vice Chairman of Wing Lung Bank respectively.
In 2009, China Merchants Bank acquired the remaining shares of Wing Lung Bank, and it became a wholly owned subsidiary of China Merchants Bank. It was delisted from the Hong Kong Stock Exchange after 16 January 2009. In May 2009, Wing Lung Bank adopted the corporate identity of China Merchants Bank.
Read more about Wing Lung Bank: Business Areas, History
Famous quotes containing the words wing, lung and/or bank:
“I come to one bush of berries so ripe it is a bush of flies,
Hanging their bluegreen bellies and their wing panes in a Chinese
screen.
The honey-feast of the berries has stunned them; they believe in
heaven.”
—Sylvia Plath (1932–1963)
“Dylan used to sound like a lung cancer victim singing Woody Guthrie. Now he sounds like a Rolling Stone singing Immanuel Kant.”
—Also quoted in Robert Shelton, No Direction Home, ch. 2, “Prophet Without Honor” (1986)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)