Ming Tak Bank

Ming Tak Bank (Chinese: 明德銀號) was a bank in Hong Kong.

The bank was owned and managed by Mr. Poon Kai Kwong who also involve in a construction and property businesses. And Poon was very active in investing in the property boom in the early 1960s in Hong Kong.^[1] In January 1965, the bank was taken over by the British Hong Kong Government but it later bankrupted because of its heavy loss in property investment.^[2][3] This led to a series of bank runs in other small and medium banks and finally a stock crash.^[4]

References

1. ^ The Origins of Anti-Competitive Bank Regulation in Hong Kong: Was Hong Kong 'over-banked' in the 1960s?
2. ^ Panic of 1965
3. ^ BANK REGULATION IN HONG KONG
4. ^ Asia Money Markets