Dao Heng Bank Group Limited (former stock code: ) () was a

bank holding company A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') or bancorporation is often used to refer to such companies as w ...

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 ...

and it had two major

subsidiaries A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...

before being

acquired ''Acquired'' is a podcast by Ben Gilbert and David Rosenthal about business history and strategy. As of 2024, the podcast has more than 600,000 monthly listeners. History Gilbert and Rosenthal worked together at Madrona Venture Group and ini ...

Dao Heng Bank Limited Dao Heng Bank Group Limited (former stock code: ) () was a bank holding company in Hong Kong and it had two major subsidiaries before being Takeover, acquired, Dao Heng Bank Limited and Overseas Trust Bank Limited. Dao Heng Bank Limited was est ...

and

Overseas Trust Bank Limited Overseas Trust Bank Limited (OTB) () was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972. It was the fourth largest bank in Hong Kong before ...

. Dao Heng Bank Limited was established in Hong Kong in 1921. It was acquired by

Guoco Group Guoco Group Limited (, ) is an investment holding company. The principal activities of its subsidiaries and associated companies include investment and treasury management, property development and investment, stock and commodity broking, insuran ...

(a member of the

Hong Leong Group Hong Leong Group is a prominent family-owned conglomerate under the Quek/Kwek family, with a strong presence in both Singapore and Malaysia. While the group shares a common heritage, it operates as two separate entities: Hong Leong Group Malays ...

) in 1982 and was listed 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 ...

in 1983. In 1989, it acquired

Hang Lung Bank Hang Lung Bank () was a bank in Hong Kong which has since merged into DBS Bank (Hong Kong). In September 1982, a bank run on Hang Lung Bank began after the collapse of Che Lee Yuen Jewellery & Goldsmith Company and the spread of rumours, but ...

from the

Hong Kong Government The Government of the Hong Kong Special Administrative Region (commonly known as the Hong Kong Government or HKSAR Government) is the Executive (government), executive authorities of Hong Kong. It was established on 1 July 1997, following the ...

. In 1993, it acquired Overseas Trust Bank from the Hong Kong Government. Instrumental in this merger, which Euromoney Magazine called "The Deal of the Year", was Managing Director Mr. Werner M. M. Makowski. A deal which led to Dao Heng Bank Group's listing on the Hong Kong Stock Exchange to be 277 times over-subscribed. On 6 December 1999, it joined to be Hang Seng Index Constituent Stocks (

blue chip Blue chip may refer to: * Blue casino token * Blue chip (stock market), a corporation with a national reputation for quality, reliability, and the ability to operate profitably * Blue chip (sports), collegiate athletes who are targeted by professio ...

), making it one of the 4 leading banks that were HSI constituents. In 2001,

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

DBS Bank DBS Bank Limited is a Singaporean multinational banking and financial services corporation headquartered at the Marina Bay Financial Centre in the Marina Bay district of Singapore. The bank was previously known as The Development Bank of Si ...

acquired Dao Heng Bank from Guoco Group, then

privatized Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...

and

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. ...

it. On 21 July 2003, DBS Bank merged Dao Heng Bank, DBS Kwong On Bank and Overseas Trust Bank to form

DBS Bank (Hong Kong) Limited DBS Bank (Hong Kong) Limited () is a licensed bank incorporated in Hong Kong and is a subsidiary of DBS Bank headquartered in Singapore. As of 2022, it is the eighth-largest bank in Hong Kong by total assets. History In 1999, DBS Bank acquir ...

See others

DBS Bank (Hong Kong) DBS Bank (Hong Kong) Limited () is a licensed bank incorporated in Hong Kong and is a subsidiary of DBS Bank headquartered in Singapore. As of 2022, it is the eighth-largest bank in Hong Kong by total assets. History In 1999, DBS Bank acquir ...

Kwong On Bank Kwong On Bank Limited (KOB) (former stock code: ) () was a Hong Kong–based bank. It was established in 1935 by Mr Leung Kwai-Yee and later run by his son, Dr. Leung Ding Bong, the President of the former Urban Council of Hong Kong, and Japan- ...

Overseas Trust Bank Overseas Trust Bank Limited (OTB) () was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972. It was the fourth largest bank in Hong Kong before T ...

References

{{reflist Companies formerly listed on the Hong Kong Stock Exchange Former companies in the Hang Seng Index Defunct banks of Hong Kong DBS Bank Banks disestablished in 2003 Banks established in 1921