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In 1945, Wing Hang Ngan Ho re-established itself in Hong Kong with a capital of HK$300,000 and a staff of nineteen. The firm prospered during the post-war boom and was incorporated in 1960 as Wing Hang Bank. In 1973, the Irving Trust Company of New York acquired a majority interest in Wing Hang. In 1979, the Head Office Building was re ...
In 2014, OCBC also snapped up Wing Hang Bank, a Hong Kong bank, giving it a foothold in both the Chinese city and the Greater Bay Area, a Chinese project to knit together the cities of the Pearl ...
Wing Hang was the eighth-largest lender in Hong Kong. Under the Hong Kong Companies Ordinance, OCBC Bank, with 97.52 percent of Wing Hang's shares, compulsorily acquired Wing Hang on 29 July 2014. On 1 October 2014, Wing Hang Bank was rebranded as OCBC Wing Hang Bank to reflect its integration into the OCBC family. [46]
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of OCBC Wing Hang Bank Limited and other ratings that are associated with the same analytical unit.
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Chekiang First Bank was a bank in Hong Kong incorporated in 1950 by Li Ming. It is now merged to Wing Hang Bank. At the time of the merger with Wing Hang, Chekiang First Bank had 17 branches in Hong Kong, a wholly owned subsidiary in Luxembourg, an agency in San Francisco, and a representative office in Shanghai. As of 31 December 2002 ...
A bank tax, or a bank levy, is a tax on banks which was discussed in the context of the financial crisis of 2007–08.The bank tax is levied on the capital at risk of financial institutions, excluding federally insured deposits, with the aim of discouraging banks from taking unnecessary risks.