The Hong Kong Institute of Bankers started out in 1963 in humble circumstances.
Launched under its parent body, the London Institute of Bankers, the Hong Kong Centre, as it was then known, occupied a rented office of just 500 square feet and had 'half a member' of staff. Now the fully-fledged institute owns over 7,000 sq ft of space and employs 20.
Although its beginnings were modest, the timing was auspicious. Hong Kong of 1963 was a very different place from today but the stage had been set for the economic transformation from backwater to international financial centre.
The banking industry played a vital role in that evolution.
It was not an easy passage as Hong Kong faced, and weathered, turbulent times: the banking crisis of 1965, the civil disturbances of 1967, the boom- bust cycles in the stock and property markets in 1973, the global oil shock and the recession of the mid-1970s, and the confidence crisis that resulted from Sino-British negotiations all left their marks on the economy.
In 1968, the Government lifted its moratorium on banking licences and banks proliferated. Hong Kong emerged as a regional financial powerhouse. The Hong Kong Centre grew with the economy.
