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In the 21st century, digital banking and fintech innovations began reshaping the banking landscape in Hong Kong. Traditional banks expanded their services to include digital platforms, while new digital-only banks emerged. These developments reflected a broader trend in the banking industry's adaptation to technological advancements.
Status: Current legislation. The Banking Ordinance is a set of laws passed by the Legislative Council of Hong Kong to tighten restrictions for opening up or licensing a bank. Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. It also had no way of protecting the people utilizing the ...
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
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The Bank of Communications (Hong Kong) Limited ( Traditional Chinese: 交通銀行 (香港)有限公司) is a licensed bank in Hong Kong. It was opened in 1934 and incorporated in 2018. The Bank's Hong Kong Branch was consolidated as part of "Joint Office of Joint Public-Private Banks" in 1952, and later part of the Bank of China Group.
The bank was founded by physician Dr. John Franklin Simmons in Pine Bluff, Arkansas in 1903. In 1933, during the Great Depression, it was one of the first Arkansas banks to reopen after the federally imposed “bank holiday”. In 1967, the bank was the first in Arkansas to offer a credit card. On March 23, 1984, a customer (Mary Stone ...
The Hong Kong Association of Banks ( HKAB; Chinese language :香港銀行公會 or 銀公會 in short) is an association created based on a series of Bank Ordinances enacted since 1948. In 1981 the association was established and replaced the Exchange Bank Association. The ordinance provides a framework for the Hong Kong Government to exchange ...
Hang Seng Bank Limited ( Chinese: 恒生銀行有限公司) is a Hong Kong-based banking and financial services company with headquarters in Central, Hong Kong. It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group, which holds a majority equity interest in the bank. [2]