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Hang Seng Bank Limited, together with its subsidiaries, provides various banking and related financial services to individual, corporate, commercial, small and medium-sized enterprises, and institutional customers in Hong Kong, Mainland China, and internationally. It operates through four segments: Wealth and Personal Banking, Commercial Banking, Global Banking and Markets, and Others.
The company offers personal banking services, including current and savings accounts, time deposits, mortgages and personal loans, credit cards, insurance, investment, and other wealth management services, as well as consumer lending services. It also provides corporate lending, trade and receivable finance, payments and cash management, treasury and foreign exchange, general insurance, key-person insurance, investment services, and corporate wealth management; and general banking, corporate lending, interest rates, foreign exchange, money markets, structured products and derivatives, etc. In addition, the company offers retirement benefits, life assurance, fund management, and stock broking services, as well as index compilation and licensing; fundraising and sales; and asset management services.
It operates approximately 280 service outlets in Hong Kong; branches in Macau and Singapore; and a representative office in Taipei, Taiwan. Hang Seng Bank Limited, through its subsidiary, Hang Seng Bank (China) Limited, also operates a network of outlets in approximately 20 cities in Mainland China. The company was founded in 1933 and is headquartered in Central, Hong Kong. Hang Seng Bank Limited is a subsidiary of The Hongkong and Shanghai Banking Corporation Limited.
In 1933, business partners Lam Bing Yim, Ho Sin Hang, Sheng Tsun Lin, and Leung Chik Wai 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 was converted into a public company in 1960. In 1965, Hang Seng Bank suffered a bank run which depleted almost one-quarter of its reserves. As a result, The Hongkong and Shanghai Banking Corporation acquired a controlling 51% interest in Hang Seng Bank, which later increased to 62.14%.In 1969, the Hang Seng Index was introduced as a public service. The index is now generally known as the indicator of the Hong Kong stock market. Hang Seng Bank was listed on the Hong Kong Stock Exchange in 1972.
In 1981, Hang Seng Bank was given permission to run branches in MTR stations. Hang Seng Bank began to extend its business to China in 1985, with the opening of a representative office in Shenzhen. Ten years later, Hang Seng Bank opened its first Chinese branch in Guangzhou.
In 2002, Hang Seng Bank launched personal e-Banking in Mainland China. Hang Seng Bank opened its branch in Macau in 2003. In 2006, Hang Seng Bank received authorisation to get ready for the formation of its mainland China subsidiary bank. Within the same year, Hang Seng Bank introduced a brand revitalisation program and presented a new company slogan – Managing wealth for you, with you. The year 2007 was significant to Hang Seng Bank: the China Banking Regulatory Commission authorised the formation of Hang Seng Bank Limited, the mainland China subsidiary bank of Hang Seng Bank which was established on 28 May.
In November 2007, Hang Seng Bank opened its new Hong Kong office at MegaBox, Kowloon Bay. Hang Seng Bank became the first bank in Hong Kong to fix the renminbi prime rate in 2010. In February 2012, Hang Seng Bank introduced the world's first RMB gold exchange-traded fund. The brand value of Hang Seng Bank was ranked 65th globally in the 2012 Brand Finance Banking 500, the highest ranking for Hong Kong banks.
“To be a profitable, growing business by exceeding the expectations of our stakeholders through service excellence based on core values that include integrity, innovation and financial strength.”
“Our objective is best achieved by maintaining a strong emphasis on responsible corporate practices throughout our operations and finding new and more effective ways to engage our customers, colleagues and local communities.”
https://en.wikipedia.org/wiki/Hang_Seng_Bank
https://www.crunchbase.com/organization/hang-seng-bank
https://sec.report/CIK/0000819953
https://finance.yahoo.com/quote/0011.HK/
https://www.comparably.com/companies/hang-seng-bank
https://companiesmarketcap.com/largest-companies-by-revenue/
https://www.reuters.com/markets/companies/0011.HK/
https://www.bloomberg.com/profile/company/HSB:GR
