Seng Heng Bank
Encyclopedia
Industrial and Commercial Bank of China (Macau) Limited formerly known as the Seng Heng Bank Limited established in 2009, is the third largest locally incorporated bank in Macau
. In August 2007, Industrial and Commercial Bank of China
(ICBC) acquired a 79.9 percent share in the bank, which became a subsidiary of ICBC. In July 2009, the merger was finalized and renamed ICBC (Macau) as such all branches of Seng Heng Bank are now re-branded as ICBC (Macau).
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
.
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
. On December 31, 2008, the Bank acquired 20% of Yantai City Commercial Bank.
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
. In August 2007, Industrial and Commercial Bank of China
Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Ltd. is the largest bank in the world by profit and market capitalization. It is one China's 'Big Four' state-owned commercial banks .It was founded as a limited company on January 1, 1984...
(ICBC) acquired a 79.9 percent share in the bank, which became a subsidiary of ICBC. In July 2009, the merger was finalized and renamed ICBC (Macau) as such all branches of Seng Heng Bank are now re-branded as ICBC (Macau).
History
The bank was acquired by Sociedade de Turismo e Diversoes de Macau S.A.Sociedade de Turismo e Diversões de Macau
The Sociedade de Turismo e Diversões de Macau, SA is a company in Macau owned by Stanley Ho and his family. Historically it held a monopoly to Macau's gambling industry as the only licensee for casinos. In 2002, the Macau government began issuing more licenses and the monopoly was broken...
in 1989, and is a wholly owned subsidiary. It was said to be the first bank in Greater China
Greater China
Greater China is a term used to refer to mainland China, Hong Kong, Macau and Taiwan. As a "phrase of the moment", the precise meaning is not entirely clear, and people may use it for only the commercial ties, only the cultural actions, or even as a euphemism for the Two Chinas, while others may...
to offer a pre-paid
Stored-value card
A stored-value card refers to monetary value on a card not in an externally recorded account and differs from prepaid cards where money is on deposit with the issuer similar to a debit card...
debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
.
Seng Heng Bank operates more than 210 service outlets, including 106 branches. Seng Heng also maintains a branch in Shenzhen
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
for foreign currency wholesale business, branches in Macau and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, and representative offices in Xiamen
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...
and Taipei
Taipei
Taipei City is the capital of the Republic of China and the central city of the largest metropolitan area of Taiwan. Situated at the northern tip of the island, Taipei is located on the Tamsui River, and is about 25 km southwest of Keelung, its port on the Pacific Ocean...
. Seng Heng Bank, through its wholly owned mainland China subsidiary, Hang Seng Bank
Hang Seng Bank
Hang Seng Bank Limited is the second largest bank in Hong Kong. It is a listed company but it is majority owned by the HSBC Group via The Hongkong and Shanghai Banking Corporation. Hang Seng is also one of the constituent shares of the Hang Seng Index...
(China) Limited, operates a network of 33 outlets in Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, Guangzhou
Guangzhou
Guangzhou , known historically as Canton or Kwangchow, is the capital and largest city of the Guangdong province in the People's Republic of China. Located in southern China on the Pearl River, about north-northwest of Hong Kong, Guangzhou is a key national transportation hub and trading port...
, Shenzhen
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
, Dongguan
Dongguan
Dongguan is a prefecture-level city in central Guangdong province, People's Republic of China.An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to...
, Fuzhou
Fuzhou
Fuzhou is the capital and one of the largest cities in Fujian Province, People's Republic of China. Along with the many counties of Ningde, those of Fuzhou are considered to constitute the Mindong linguistic and cultural area....
, Nanjing
Nanjing
' is the capital of Jiangsu province in China and has a prominent place in Chinese history and culture, having been the capital of China on several occasions...
, Hangzhou
Hangzhou
Hangzhou , formerly transliterated as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China. Governed as a sub-provincial city, and as of 2010, its entire administrative division or prefecture had a registered population of 8.7 million people...
, Ningbo
Ningbo
Ningbo is a seaport city of northeastern Zhejiang province, Eastern China. Holding sub-provincial administrative status, the municipality has a population of 7,605,700 inhabitants at the 2010 census whom 3,089,180 in the built up area made of 6 urban districts. It lies south of the Hangzhou Bay,...
, Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
and Kunming
Kunming
' is the capital and largest city of Yunnan Province in Southwest China. It was known as Yunnan-Fou until the 1920s. A prefecture-level city, it is the political, economic, communications and cultural centre of Yunnan, and is the seat of the provincial government...
. On December 31, 2008, the Bank acquired 20% of Yantai City Commercial Bank.