China Construction Bank (Macau)
Encyclopedia
China Construction Bank Corporation Limited (Traditional Chinese: 中國建設銀行(澳門)股份有限公司) is a bank in Macau
. It is wholly owned by China Construction Bank (Asia), a wholly owned subsidiary of China Construction Bank
. It has 6 branches in Macau offering commercial banking and retail banking
products and services. It was originated from the Bank of Canton
(Macau Branch) which was established in 1936.
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
. It is wholly owned by China Construction Bank (Asia), a wholly owned subsidiary of China Construction Bank
China Construction Bank
China Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
. It has 6 branches in Macau offering commercial banking and retail banking
Retail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
products and services. It was originated from the Bank of Canton
Bank of Canton
Bank of Canton was the first Chinese-owned bank in Hong Kong. At the time, all the other banks in Hong Kong were foreign, primarily British, including the locally incorporated but British-run Hongkong and Shanghai Banking Corporation....
(Macau Branch) which was established in 1936.
History
- 1912: Bank of CantonBank of CantonBank of Canton was the first Chinese-owned bank in Hong Kong. At the time, all the other banks in Hong Kong were foreign, primarily British, including the locally incorporated but British-run Hongkong and Shanghai Banking Corporation....
was established in Hong Kong. - 1936: Bank of Canton (Macau Branch) was established in Macau.
- 1945: Bank of Canton was re-established after it was seriously disrupted during the Great DepressionGreat DepressionThe Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
in 1930s and the World War IIWorld War IIWorld War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
in 1940s. - 1988: Bank of Canton was acquired by Security Pacific National Bank and renamed to "Security Pacific Asian Bank".
- 1992: Security Pacific Corporation was merged with Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
. - 1993: Security Pacific Asian Bank was renamed to "Bank of America (Asia)".
- 2006: China Construction Bank acquired Bank of America (Asia) from Bank of America.
- 2007: Bank of America (Asia) was renamed to China Construction Bank (Asia). Bank of America (Macau) was also renamed to China Construction Bank (Macau).