The Industrial and Commercial Bank of China (Asia), abbreviated as ICBC (Asia), is a licensed bank incorporated in
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...
. It is a subsidiary of the
Industrial and Commercial Bank of China
The Industrial and Commercial Bank of China (ICBC; zh, 中国工商银行) is a Chinese partially state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is the largest of the " big four" banks ...
.
History
On 21 August 2000, ICBC acquired the
Union Bank of Hong Kong The Union Bank of Hong Kong (Former stock code: )(Traditional Chinese: 香港友聯銀行) was a bank in Hong Kong. It became the Industrial and Commercial Bank of China (Asia) (Traditional Chinese: 中國工商銀行 (亞洲)).
The bank was estab ...
, which was founded in Hong Kong in 1964 and traded on the
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (, SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. It is one of the largest stock exchanges in Asia and the List of major stock exchanges, 9th largest globally by market ...
since 1973. The bank was renamed as ICBC (Asia) after the acquisition by ICBC in July 2001.
On 30 April 2004, ICBC (Asia) acquired the
retail banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...
business (but not the wholesale banking business) of
Fortis Bank Asia HK
Fortis may refer to:
Business
* Fortis (Swiss watchmaker), a Swiss watch company
* Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock
* Fortis Healthcare, a chain of hospitals in In ...
from
Fortis
Fortis may refer to:
Business
* Fortis (Swiss watchmaker), a Swiss watch company
* Fortis Films, an American film and television production company founded by actress and producer Sandra Bullock
* Fortis Healthcare, a chain of hospitals in ...
. Fortis Bank Asia became a wholly owned subsidiary of ICBC (Asia) and reverted to its earlier name,
Belgian Bank
Belgian may refer to:
* Something of, or related to, Belgium
* Belgians, people from Belgium or of Belgian descent
* Languages of Belgium, languages spoken in Belgium, such as Dutch, French, and German
*Ancient Belgian language, an extinct language ...
. On 10 October 2005, all Belgian Bank's branches were rebranded as ICBC (Asia). This merger has resulted in ICBC (Asia) rising to the position of being the sixth largest bank on the Hong Kong Stock Exchange, from its former position of tenth.
In November 2010, the company said it had obtained shareholder approval to take the Hong Kong unit private.
It is
delisted
In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are publicly listed. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, subject to conditions.
...
from the Hong Kong Stock Exchange in December 2010.
See also
*
List of banks in Hong Kong
Hong Kong maintains a three-tier system of deposit-taking institutions, i.e. licensed banks, restricted licence banks and deposit-taking companies. They are collectively known as “authorized institutions” supervised by the Hong Kong Monetary ...
*
Union Bank of Hong Kong The Union Bank of Hong Kong (Former stock code: )(Traditional Chinese: 香港友聯銀行) was a bank in Hong Kong. It became the Industrial and Commercial Bank of China (Asia) (Traditional Chinese: 中國工商銀行 (亞洲)).
The bank was estab ...
Notes
References
External links
Company websiteCompany website
Banks of Hong Kong
Banks established in 2001
Companies formerly listed on the Hong Kong Stock Exchange
Industrial and Commercial Bank of China
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