Hang Seng Bank
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Managing wealth for you, with you.
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| Public | |
| Traded as | : 0011, OTC Pink: |
| Industry | Finance and insurance |
| Founded | March 3, 1933 |
| Founders | Lam Bing Yim, Ho Sin Hang, Sheng Tsun Lin, and Leung Chik Wai |
| Headquarters | Hang Seng Bank Headquarters Building, Central, Hong Kong |
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Key people
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| Products | Financial services |
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Number of employees
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over 9,680 |
| Parent | HSBC Group (62.14%) |
| Website | www |
| Hang Seng Bank | |||||||||
| Traditional Chinese | 恒生銀行 | ||||||||
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| Simplified Chinese | 恒生银行 | ||||||||
| Literal meaning | ever-growing bank | ||||||||
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| Hang Seng Bank, Limited | |||||||||
| Traditional Chinese | 恒生銀行有限公司 | ||||||||
| Simplified Chinese | 恒生銀行有限公司 | ||||||||
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| Transcriptions | |
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| Yue: Cantonese | |
| Yale Romanization | hàhng sāng ngàhn hòhng |
| Jyutping | hang4 sang1 ngan4 hong4 |
| Transcriptions | |
|---|---|
| Yue: Cantonese | |
| Yale Romanization | hàhng sāng ngàhn hòhng yáuh haahn gūngsī |
| Jyutping | hang4 sang1 ngan4 hong4 jau5 haan6 gung1 si1 |
Hang Seng Bank, Limited (Chinese: 恒生銀行有限公司) is a Hong Kong-based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group, which holds a majority equity interest in the bank.
Hang Seng Bank is a commercial bank whose major business activities include retail banking, wealth management, commercial banking, treasury services, and private banking. Hang Seng Bank operates a network of around 220 branches in Hong Kong. It also has a wholly owned subsidiary in mainland China, Hang Seng Bank (China) Limited which has a network of 46 branches and sub branches.
It established the Hang Seng Index as a public service in 1969 and this stock market index is now generally known as the primary indicator of the Hong Kong stock market.
In 1933, business partners Lam Bing Yim (), Ho Sin Hang, Sheng Tsun Lin (盛春霖), and Leung Chik Wai (梁植偉) founded Hang Seng Ngan Ho, the predecessor of Hang Seng Bank, in Hong Kong. Hang Seng means "ever-growing" in Cantonese. It commenced business as a simple money-changing shop at 70 Wing Lok Street, Sheung Wan, on 3 March 1933. In 1952, Hang Seng Bank became a private company and embarked on commercial banking. Hang Seng Bank turned into a public company in 1960. In 1965, Hang Seng Bank suffered from bank run of which depleted almost one-fourth of its deposits. Because of that, The Hongkong and Shanghai Banking Corporation (HSBC) acquired a 51% interest of Hang Seng Bank, later increased to 62.14%, and owned the controlling power of Hang Seng Bank.
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