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Wing Hang Bank was founded in 1937. It was incorporated as a banking company in 1960, and has branches in Hong Kong, Macau and representative offices in China.
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Wing Hang Bank was founded in 1937. It was incorporated as a banking company in 1960, and has branches in Hong Kong, Macau and representative offices in China.
OCBC targets China business after Wing Hang deal
OCBC targets China business after Wing Hang deal
Oversea-Chinese Banking Corp, Southeast Asia's second-largest bank by assets, is confident that its proposed acquisition of Wing Hang Bank will be completed by the third quarter of this year despite some growing concerns about the deal's valuation.
Oversea-Chinese Banking Corp, Southeast Asia's second-largest bank by assets, is confident that its proposed acquisition of Wing Hang Bank will be completed by the third quarter of this year despite some growing concerns about the deal's valuation.
Can Singaporean banks win more business in Hong Kong or even in the much bigger mainland market simply through high-cost acquisitions?
Can Singaporean banks win more business in Hong Kong or even in the much bigger mainland market simply through high-cost acquisitions?
Credit rating agency Fitch Ratings has placed Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, on negative watch, citing higher potential exposure to China, after the bank announced a HK$38.4 billion takeover of Hong Kong's Wing Hang Bank.
Credit rating agency Fitch Ratings has placed Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, on negative watch, citing higher potential exposure to China, after the bank announced a HK$38.4 billion takeover of Hong Kong's Wing Hang Bank.
Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, has offered HK$38.4 billion to fully acquire Wing Hang Bank, the eighth-largest lender in Hong Kong, to tap into increasing money flows between Southeast Asia and China.
Oversea-Chinese Banking Corp, Southeast Asia's second-largest lender, has offered HK$38.4 billion to fully acquire Wing Hang Bank, the eighth-largest lender in Hong Kong, to tap into increasing money flows between Southeast Asia and China.
Oversea-Chinese Banking Corp has extended exclusive talks to buy Wing Hang Bank beyond a January 31 deadline, Wing Hang said yesterday. Sources said that while the banks had largely agreed on financial terms, OCBC was seeking a go-ahead from the Hong Kong Monetary Authority before announcing a deal.
Oversea-Chinese Banking Corp has extended exclusive talks to buy Wing Hang Bank beyond a January 31 deadline, Wing Hang said yesterday. Sources said that while the banks had largely agreed on financial terms, OCBC was seeking a go-ahead from the Hong Kong Monetary Authority before announcing a deal.
Wing Hang Bank's potential suitors may need to pay more than HK$40 billion to take the city's second-largest family-owned bank private. More than three parties were talking to Wing Hang, a person familiar with the situation said.
Wing Hang Bank's potential suitors may need to pay more than HK$40 billion to take the city's second-largest family-owned bank private. More than three parties were talking to Wing Hang, a person familiar with the situation said.
Anbang Insurance is among companies considering bids for Wing Hang Bank, Hong Kong's second-largest family-run lender, according to sources.
Anbang Insurance is among companies considering bids for Wing Hang Bank, Hong Kong's second-largest family-run lender, according to sources.
Wing Hang Bank, Hong Kong’s second-largest family-owned lender, which is in takeover talks, would likely have its credit rating downgraded if the acquirer was based on the mainland, Moody’s Investors Service said.
Wing Hang Bank, Hong Kong’s second-largest family-owned lender, which is in takeover talks, would likely have its credit rating downgraded if the acquirer was based on the mainland, Moody’s Investors Service said.
Wing Hang declared a final dividend of HK$1.62 per share, which works out to a dividend payout ratio of 35 per cent for last year, up from 25 per cent in 2011.
Wing Hang declared a final dividend of HK$1.62 per share, which works out to a dividend payout ratio of 35 per cent for last year, up from 25 per cent in 2011.
A Wing Hang Bank manager was yesterday found guilty of stealing the personal information of more than 10,000 clients, including borrowing histories, from the bank's computer database.
A Wing Hang Bank manager was yesterday found guilty of stealing the personal information of more than 10,000 clients, including borrowing histories, from the bank's computer database.
Singapore's United Overseas Bank and Australia & New Zealand Banking Group are believed to be considering a bid for Hong Kong's Wing Hang Bank. Wing Hang, which has a market capitalisation of US$4.7 billion, announced this month that its controlling shareholders had received preliminary offers from independent third parties to purchase their shares in the bank. It did not name the bidders.
Singapore's United Overseas Bank and Australia & New Zealand Banking Group are believed to be considering a bid for Hong Kong's Wing Hang Bank. Wing Hang, which has a market capitalisation of US$4.7 billion, announced this month that its controlling shareholders had received preliminary offers from independent third parties to purchase their shares in the bank. It did not name the bidders.