Chiyu Banking Corporation Limited also known as Chiyu Bank is a

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

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 ...

History

It was founded by

Tan Kah Kee Tan Kah Kee (; also spelled as Chen Jiageng; 21 October 1874 – 12 August 1961) was a Chinese businessman, investor, and philanthropist active in Singapore, Hong Kong and the Chinese cities of Shanghai, Xiamen, and Guangzhou. A prominent fig ...

on 15 July 1947, and it has 23 branches in Hong Kong and focuses on serving the community of Fujianese people in Hong Kong. Chiyu was explicitly created by Chen to create a sustainable business with profits to be devoted to education in

Xiamen Xiamen,), also known as Amoy ( ; from the Zhangzhou Hokkien pronunciation, zh, c=, s=, t=, p=, poj=Ē͘-mûi, historically romanized as Amoy, is a sub-provincial city in southeastern Fujian, People's Republic of China, beside the Taiwan Stra ...

and the rest of Fujian province in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. Since its founding, it has spent more than HK$1 billion in education in the province, primarily through funding

Jimei University Jimei University (JMU; ) is a provincial public university in Xiamen, Fujian, China. It is affiliated with the Province of Fujian, and co-funded by the Fujian Provincial People's Government, the Ministry of Transport A ministry of transport ...

and its related schools.

Ownership

Bank of China (Hong Kong) Bank of China (Hong Kong) Limited (), abbreviated as BOCHK (), is a subsidiary of the Bank of China (via the Hong Kong-listed intermediate holding company BOC Hong Kong Holdings). Bank of China (Hong Kong) is the second-largest commercial ban ...

gradually accumulated a 70% stake in Chiyu in the 1970s; the rest of the bank is held by the

foundation, the government of

Municipality City and minority shareholders. On 27 March 2017, Bank of China (Hong Kong) disposed of all of its 70.49% of interests in Chiyu., selling most of it to Xiamen International Investment Limited, a wholly owned subsidiary of Xiamen International Bank Co. Ltd, and part of it (6.18% of Chiyu) to the Committee of Jimei Schools.

References

External links

* Banks of Hong Kong Banks established in 1947 Bank of China 1947 establishments in Hong Kong {{Asia-bank-stub