Fubon Bank (Hong Kong) Limited
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Formerly called
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Sun Hung Kai Finance Company Sun Hung Kai Bank (1982) International Bank of Asia (1986) |
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| Public | |
| Traded as | : 0636 |
| Industry | Banking |
| Founded | Hong Kong 1970 |
| Founder | Fung King Hey |
| Headquarters | Hong Kong |
| Parent | Fubon Financial Holding Co., Ltd. |
| Website | Official Site |
| Fubon Bank | |||||||||||||
| Traditional Chinese | 富邦銀行(香港)有限公司 | ||||||||||||
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| Simplified Chinese | 富邦银行(香港)有限公司 | ||||||||||||
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| Transcriptions | |
|---|---|
| Standard Mandarin | |
| Hanyu Pinyin | Fùbāng Yínháng (Xiānggǎng) Yǒuxiàngōngsī |
| Yue: Cantonese | |
| Yale Romanization | Fubōng Ngàhnhòhng (Hēunggóng) Yauhhaahngūngsī |
| Jyutping | fu3 bong1 ngan4 hong4 (hoeng1 gong2) jau5 haan6 gung1 si1 |
Fubon Bank (Hong Kong) Limited (Chinese: 富邦銀行(香港)有限公司) is a licensed bank incorporated in Hong Kong. It is a subsidiary of Fubon Financial Holding Co., Ltd. of Taiwan. Prior to adopting the Fubon brand on April 6, 2005, the organisation was known as International Bank of Asia, more commonly known as IBA (Chinese: 港基銀行, formerly branded as Chinese: 港基國際銀行).
Fubon Bank (Hong Kong) Limited was established as Sun Hung Kai Finance Company, the financing arm of Sun Hung Kai Securities. The name Sun Hung Kai Bank was adopted in 1982, when it received a multi-branch banking licence. The original Sun Hung Kai Bank shareholders included Banque Paribas, Merrill Lynch, and the family of Fung King-Hey (founder of Sun Hung Kai Securities).
In 1985, Ahmet D. Arsan, Asia Head of Arab Banking Corporation (ABC), arranged for ABC to acquire 75% of Sun Hung Kai Bank, which, at the time, was suffering from sub-optimal results and was ripe for a take-over. Arsan was a well-known and highly influential Turkish-American banker who ABC had recruited in 1982 to head ABC Asia Pacific, after his success, years earlier, in establishing the Asia Pacific arm of First Chicago (now JPMorgan Asia). Immediately following the 1985 acquisition of Sun Hung Kai Bank by ABC, Arsan made sweeping changes in the bank, ranging from the executive management team and most of the bank's staff, to the bank's entire set of operating procedures, on which all employees were trained.
In 1986, Arsan changed the institution's name and re-branded the organisation as International Bank of Asia (IBA); (港基國際銀行). Ahmet D. Arsan was the founding Chief Executive Officer and Managing Director of International Bank of Asia (IBA) from 1985 to 1989, after which Arsan left IBA and established a private Hong Kong based trading firm.
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