Company History

Wing Lung Bank, founded in 1933, is among the oldest local Chinese banks in Hong Kong. Following its motto of “Progress with prudence, service with sincerity”, the Bank provides comprehensive banking services, including deposits, loans, private banking and wealth management, investment, securities, credit cards, NET Banking, Mobile Banking, syndicated loans, corporate financing, bills, hire-purchase and leasing, foreign exchange, insurance agency, Mandatory Provident Fund, etc. Wing Lung Bank also provides insurance broking and general insurance underwriting, property management, trustee, nominee as well as asset management services through its wholly-owned subsidiaries. At present, the Bank has more than 40 banking business outlets in Hong Kong, mainland China, Macau and overseas, and a staff force of more than 1,800 people. As at 30 June 2017, its consolidated total assets stood at HK$3,152 billion. Wing Lung Bank has become a member of China Merchants Bank Group since 2008. China Merchants Bank, the 6th largest commercial bank by total assets in China, is currently among the top 100 banks in the world.

  • 2010
    • The Bank established its Tseung Kwan O Metro City Branch and Kung Tong Shing Yip Street Branch in July and August 2010 respectively. The Bank also set up a branch in Macau in December 2010.
  • 2011
    • The Bank established its Kowloon City Branch and Science Park Branch in June and September 2011.
    • The Bank launched the first of its kind Wine Financing services.
  • 2012
    • The Bank established its Fortress Hill Branch in November 2012.
    • Wing Lung Asset Management Ltd was set up to provide asset management service.
    • The Bank launched Private Wealth Management Services in March 2012.
  • 2013
    • The Bank was among the first to provide cross-border loans to firms in Qianhai.
    • The Bank celebrated its 80th Anniversary.
  • 2014
    • The Bank merged two branches located at Causeway Bay of Hong Kong side and expanded Causeway Bay Branch at new site in December 2014
    • The Bank launched Wing Lung Private Banking Services as CMB’s first offshore private bank centre in August 2014.
    • The Bank set up San Francisco Branch in USA in July 2014.
  • 2015
    • The Bank renovated Central District Branch at new premises for business expansion in March 2015.
    • The Bank renovated Wing Lung Private Banking Centre at Exchange Square in Central in July 2015.
    • The Bank obtained the approval to upgrade Guangzhou Representative Office to Branch in September 2015. Guangzhou Branch has commenced its business at new premise.
  • 2000

    To expand the insurance operation, the Bank partnered with other banks to set up BC Reinsurance Limited and Hong Kong Life Insurance Limited.

2001

  • The Bank purchased from IBM China/Hong Kong Limited the state-of-the-art teller terminal system to enhance its service to customers.
  • The Bank set up Wealth Management Centre to expand its wealth management business.

2002

The paid-up capital of the Bank has been increased several times in the past by the issuance of bonus shares to shareholders. As at 31 December 2002, the total assets of the Bank stood at HK$61.7 billion.

2004
  • Being the first Hong Kong local bank approved to set up a branch on the Mainland after the signing of the Closer Economic Partnership Arrangement (CEPA) between Mainland China and Hong Kong, the Bank opened its first Mainland branch in Shenzhen .
  • DBS Bank Limited withdrew its interest in the Bank and transferred 10% of the Bank's capital to Wu Jieh Yee Company Limited, one of the Bank's substantial shareholders.
  • The new teller platform acquired from IBM China/Hong Kong Limited commenced operations upon completion of system development. Continuous efforts have been placed on the application of computer systems to meet customers' demand for automated service channels as well as to strengthen management of various risks.

2005

The Bank set up a sub-branch in Nanshan, Shenzhen.

2006

The Bank celebrated the opening of the new building for Los Angeles Branch on a plot of land purchased by the Bank in the City of Alhambra, USA.

2007

Shenzhen Branch and Shenzhen Nanshan Sub-branch started to provide Renminbi services after obtaining approval from the China Banking Regulatory Commission.

2008
  • On 31 January 2008, the Bank signed an agreement with Yantai City Commercial Bank, the second largest city commercial bank in Shandong Province, to acquire 4.99% of Yantai City Commercial Bank's enlarged capital and became one of the key shareholders.
  • The Bank has upgraded its Shanghai Representative Office to a full branch after obtaining approval from the China Banking Regulatory Commission. Shanghai Branch opened for business in early 2008.
  • China Merchants Bank completed its acquisition of the Bank's 53.12% shares on 30 September 2008.

  • 2009
    • The Compulsory Acquisition of the Bank's shares by China Merchants Bank Co., Ltd was completed on 15 January 2009. The Bank became a direct wholly-owned subsidiary of the China Merchants Bank Group.
    • In order to expand its branch network, the Bank established its Des Vouex Road West Branch, China Hong Kong City Flagship Branch and Mei Foo Sun Chuen Branch in April, August and September 2009 respectively.
  • 1992

    The Development Bank of Singapore Limited acquired 10% of the Bank's share capital from the companies controlled by the Wu family and participated as a shareholder.

  • 1994

    The Bank set up its Guangzhou Representative Office, its first presence in China.

  • 1995

    The Bank began to engage in credit card business.

  • 1996
    • The Bank set up an operation centre to centralize various back-office services and tasks previously handled by individual departments and branches.
    • A branch office was set up in the Cayman Islands, BWI to provide off-shore banking services for customers.
  • 1998
    • The Bank started to provide hire-purchase and leasing services through its wholly-owned subsidiary, Wing Lung Finance Limited.
    • Wing Lung NET Banking was launched to deliver banking service to customers via internet.
  • 1999
    • The Bank set up a Representative Office in Shanghai.
    • The Bank joined in a partnership with other banks to set up the Bank Consortium Trust Company Limited to tap the Mandatory Provident Fund business.
    • The Bank introduced securities trading service through electronic channels, "Wing Lung Automated Securities" and "Wing Lung NET Banking" Services.

  • 1980

    Wing Lung Bank was listed with 25% of the Bank's share capital offered for sale to the public, and shares in the Bank began to be traded on the stock exchanges in Hong Kong.

  • 1982

    The Bank joined forces with four other local Chinese banks to set up Joint Electronic Teller Services Ltd (JETCO)— a cooperative network to provide automated teller machine service to customers.

  • 1984

    The Bank's first overseas branch was set up in Los Angeles, California, USA.

  • 1986

    The Bank's wholly-owned subsidiary, Wing Lung Insurance Company Limited was authorised by the Government to engage in insurance business.

  • 1987
    • Standard Chartered Bank withdrew its interest in the Bank and transferred 10% of the Bank's capital to the companies controlled by the Wu family as a result of its change in investment policy.
    • The Bank's wholly-owned subsidiary, Hongnet Limited (now known as Wing Lung Securities Limited) was established to provide securities trading services to customers.

  • 1933

    Wing Lung Ngan Ho, as the indigenous bank was then called, opened for business on 25 February 1933 at 37 Bonham Strand East, Hong Kong with an initial capital of HK$44,500. The business of the Bank included money exchange, remittances, deposits, the buying and selling of stocks and shares, gold bullion and Chinese Government bonds or customers.

  • 1937

    In order to cope with the growing business, the Bank moved to a more spacious premises at 112 Queen's Road, Central, Hong Kong.

  • 1941

    The Pacific War broke out and Hong Kong was occupied by the Japanese. The Bank evacuated Hong Kong, and some of the staff moved to Macau where the Bank continued its business; the rest of the staff moved to Liuzhou, Guangxi, China where the "Wing Lung Jewelry & Gold Dealers" was established.

  • 1945

    The Bank resumed operations in Hong Kong after the conclusion of the War.

  • 1950

    The Bank joined the Hong Kong Bankers' Clearing House.

  • 1952

    The Bank began to engage in documentary bill operations. In the same year the redevelopment of the Bank's old head office building was completed.

  • 1953

    The Bank became the general agent of The National Insurance Company of New Zealand Ltd for Hong Kong and Macau.

  • 1956

    The Bank was incorporated as a limited company. To cope with expanding business and the increase in staff members, the Bank premises were extended to adjacent premises previously purchased for redevelopment purposes.

  • 1960

    The Chinese name of the Bank was changed to 「永隆銀行有限公司」.

  • 1965

    The Bank's old head office building was redeveloped the third time to cater for the expansion of its business activities.

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