Liu Chong Hing Bank, one of Hong Kong's smallest lenders, expects to save at least $40 million a year on rent after moving back to its redeveloped headquarters in Des Voeux Road Central by the end of the year.
For the past two years, the bank's administrative operations have been carried out in offices spread across the city.
Senior manager Brian Cheung Nam-chung said the lender also planned to change its name to Chong Hing Bank, subject to regulatory and shareholder approval, after the move.
Mr Cheung said the name - removing the name of the Liu family who hold 45 per cent of the bank - was in keeping with business development. 'The redeveloped headquarters building will be named Chong Hing Bank Building, so we will take the opportunity to change the bank's name at the same time,' he said.
The bank will occupy most of 115,000 square feet of the redeveloped central headquarters. Meanwhile, Mr Cheung said the bank would open nine more branches this year, taking its network to 45.
In addition, he said the bank had increased wages by an average of 8 per cent this year.