Seng Heng Bank Limited (traditional Chinese: 誠興銀行), established in 1972, is the second largest locally incorporated bank in Macau. The bank was acquired by Sociedade de Turismo e Diversoes de Macau S.A. in 1989, and is a wholly owned subsidiary. It was said to be the first bank in Greater China to offer a pre-paid debit card. [1]
The bank reports its total 2004 assets to be in excess of MOP 19 billion, with a profit in that year of 171 million patacas. [2]
In August 2007, Industrial and Commercial Bank of China acquired a 79.9 percent share in the bank, which has now become a subsidiary of ICBC.[3] All branches of Seng Heng Bank are now rebranded as ICBC.
Businesses
Seng Heng Bank operates more than 210 service outlets, including 106 branches. Seng Heng also maintains a branch in Shenzhen for foreign currency wholesale business, branches in Macau and Singapore, and representative offices in Xiamen and Taipei. Seng Heng Bank, through its wholly owned mainland China subsidiary, Hang Seng Bank (China) Limited, operates a network of 33 outlets in Beijing, Shanghai, Guangzhou, Shenzhen, Dongguan, Fuzhou, Nanjing, Hangzhou, Ningbo, Tianjin and Kunming. Hang Seng is a principal member of the HSBC Group. The parent and ultimate holding companies of the Bank are The Hongkong and Shanghai Banking Corporation Limited and HSBC Holdings plc, respectively.
On December 31, 2008, the Bank acquired 20% of Yantai City Commercial Bank.
References
External links
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