|Mar 23, 2017|
|Mar 23, 2017|
Currency in HKD
|Full time employees:||9,708|
Hang Seng Bank Ltd. provides commercial banking and related financial services. It operates through the following business segments: Hong Kong and Other Business and Mainland China Business. The Hong Kong and Other Business segment consists of the following activities: Retail Banking and Wealth Management, Corporate and Commercial Banking, Treasury and Other. The Retail Banking and Wealth Management activities includes a broad range of products and services to meet the personal banking, consumer lending and wealth management needs of individual customers. Its personal banking products include current and savings accounts, mortgages and personal loans, credit cards, insurance and wealth management. The Corporate and Commercial Banking activities include the provision of financial services, payments and cash management, international trade finance, insurance, wealth management and tailored financial solutions to corporate and commercial customers. The Treasury activities include the provision of treasury operation services in credit, interest rates, foreign exchange, money markets and securities services. It also manages the funding and liquidity positions of the Group and other market risk positions arising from banking activities. The Other activities represent the management of shareholders' funds and investments in premises, investment properties and equity shares and subordinated debt funding. The Mainland China Business segment comprises the business of Hang Seng Bank (China) Ltd. The company was founded by Sin Hang Ho in 1933 and is headquartered in Hong Kong.
Hang Seng Bank is a major local bank in Hong Kong and a member of the U.K.'s HSBC group.
Hang Seng has a strong presence in Hong Kong's retail banking sector, with more than 240 branches and numerous ATMs set up at MTR stations and shopping malls. More than half of Hong Kong's adult population is said to have an account at Hang Seng Bank.
The bank established a subsidiary in mainland China in 2007 and operates some 50 branches in such cities as Shanghai and Beijing. It plans to focus on selling financial products, such as investment trusts and insurance.
Hang Seng Bank started as a money exchanger in 1933 and was once the largest Chinese-capitalized bank in Hong Kong. But the plunge of the real estate and stock markets in Hong Kong in 1965 triggered a run on the bank. As a result, it eventually went under Hong Kong and Shanghai Banking Corp. umbrella.
Currently, Hong Kong and Shanghai Banking Corp. owns roughly 60% of Hang Seng Bank. The two entities work together closely in many ways, such as sharing ATMs.
The Hang Seng Index, introduced in 1969, is considered Hong Kong's benchmark stock index.
Hang Seng Bank Vice-Chairman and CEO Rose Lee Wai-mun has held key posts at HSBC's Hong Kong division.
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- Local currency
- US Dollar
|Income before tax||19,090M|
|Dividends per share||6.1|
|Operating cash flow||26,469M|
Currency in HKD
|Income before tax||2,459.27M|
|Dividends per share||0.78|
|Operating cash flow||3,409.87M|
Currency in USD
- Vice Chairman & Chief Executive Officer: Wai Mun Lee
- Chief Financial Officer: Wing Lok Leung
- Head-Retail Banking & Wealth Management: Margaret Kwan
- Head-Commercial Banking: Yin Shing Lam
- Executive Director, Head-Global Banking & Markets: Andrew Fung
- HSBC Holdings Plc(62.1%)
- The Vanguard Group, Inc.(0.8%)
- BlackRock Fund Advisors(0.8%)
- Norges Bank Investment Management(0.5%)
- Hang Seng Investment Management Ltd.(0.4%)
- State Street Global Advisors Asia Ltd.(0.4%)
- APG Asset Management NV(0.2%)
- BlackRock Advisors (UK) Ltd.(0.1%)
- Capital Research & Management Co. (Global Investors)(0.1%)
- Eastspring Investments (Hong Kong) Ltd.(0.1%)
- Website: http://www.hangseng.com
- Address: 83 Des Voeux Road Central, Level 6, Hong Kong, Hong Kong
- Phone: +852.2198.1111
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