Chekiang First Bank

Chekiang First Bank (Chinese: 浙江第一銀行) was a bank in Hong Kong. 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, Chekiang First had total assets of HK$27.8 billion. Wing Hang subsequent re-branded all services under the Wing Hang brand.

History

• 1907: Founded under the name Chekiang Provincial and Industrial Bank, with headquarters in Hangzhou.
• 1911: Restructured as Chekiang Bank of the Republic of China (Chinese: 中華民國浙江銀行).
• 1912: Restructured as the Chekiang Provincial and Industrial Bank (Chinese: 浙江地方實業銀行).
• 1923: Li Meng converted the bank's Shanghai branch into the Chekiang Industrial Bank (Chinese: 浙江實業銀行), with headquarters in Shanghai, and became its director.
• 1948: Restructured as Chekiang First Bank.
• 1950: Re-established in Hong Kong as Chekiang First Bank of Commerce (Chinese: 浙江第一商業銀行).^[1]
• 1962: Japan's Dai-Ichi Kangyo Bank (now the Mizuho Corporate Bank), acquired a 30% stake in the bank, a stake that eventually it increased to 95%.
• 2003: Acquired by Wing Hang Bank.^[2]
• 2004: Merged to Wing Hang Bank.^[3]

References

1. ^ 浙江第一银行 (Chinese Version)
2. ^ Industry consolidation
3. ^ Wing Hang, Chekiang First Bank complete merging