Supriya Ghosh (Editor)

Ka Wah Bank

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Former type
  
Listed company

Defunct
  
1998

Founder
  
Lam Chi - fung

Industry
  
Finance

Headquarters
  
Hong Kong

Founded
  
1923

Ka Wah Bank httpsuploadwikimediaorgwikipediacommonsthu

Ka Wah Bank Limited (Traditional Chinese: 嘉華銀行有限公司) (Former stock code: SEHK: 183) was a bank in Hong Kong. It was acquired by CITIC International Financial Holdings and renamed as CITIC Ka Wah Bank Limited (Traditional Chinese: 中信嘉華銀行有限公司)(In May 2010, CITIC Ka Wah Bank Limited was renamed as CITIC Bank International Limited(Traditional Chinese: 中信銀行國際有限公司)).

Contents

History

  • 1922: Ka Wah Ngan Ho (Traditional Chinese: 嘉華銀號) was founded in Guangzhou by Dr. Lam Chi Fung, the founding president of Hong Kong Baptist College. Its name, Ka Wah, was derived from the names of Ka Nam Tong and Nam Wah Company.
  • 1924: Ka Wah Savings Bank Limited (Traditional Chinese: 嘉華儲蓄銀行有限公司) was founded in Hong Kong. Ka Wah Ngan Ho in Guangzhou then became Ka Wah Savings Bank Limited, Guangzhou Branch.
  • 1926: Ka Wah Savings Bank Limited was renamed as Ka Wah Bank Public Limited Company (Traditional Chinese: 嘉華銀行公眾有限公司).
  • 1931: Shanghai branch was established.
  • 1935: Branches in Shanghai and Guangzhou were closed down.
  • 1945: It reopened in Hong Kong.
  • 1949: It was renamed as Ka Wah Bank Limited.
  • 1974: C.S. Low (Low Chung Song 刘灿松), a Singapore businessman and banker, led takeover of Ka Wah Bank in December 1974 from a group of U.S. investors. He became the bank's largest shareholder.
  • 1980: It was listed on the Hong Kong Stock Exchange. Underwritten by Chase Manhattan Asia.
  • 1986: Ka Wah Bank suffered from financial difficulties, and CITIC Group injected HK$350 million capital into the bank.
  • 1998: Ka Wah Bank was renamed as CITIC Ka Wah Bank Limited.
  • 2002: CITIC Ka Wah Bank was privatized by CITIC International Financial Holdings and it became a whole-owned subsidiary of CITIC International Financial Holdings.

    • See others

  • CITIC Ka Wah Bank
  • David Lam See-chai, one of nine children of Lam Chi Fung who later moved to Canada and became the Lieutenant Governor of British Columbia

    • References

    Ka Wah Bank Wikipedia
    (Text) CC BY-SA