|Jan 19, 2018|
|Jan 19, 2018|
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: Retail Banking and Wealth Management; Commercial Banking; Global Banking and Markets; and Other. The Retail Banking and Wealth Management segment offers a range of products and services to meet the personal banking, consumer lending, and wealth management needs of individual customers. The Commercial Banking segment provides products and services to corporate, commercial and small-medium enterprise (SME) customers including 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. The Global Banking and Markets segment gives tailored financial solutions to major corporate and institutional clients. The Other segment represents the Bank's holdings of premises, investment properties, equity shares and subordinated debt funding as well as central support and functional costs with associated recoveries. 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.
In the news
Tight monetary policy crimps investment, but personal spending and exports to buoy economy
December 25, 2017 6:10 pm JST
December 13, 2017 11:50 am JST
Hang Seng Index adds Country Garden, Sunny Optical
November 10, 2017 9:20 pm JST
November 10, 2017 8:35 pm JST
October 13, 2017 12:21 pm JST
Yuan rate expected to remain largely flat for the rest of 2017, local economists say
October 5, 2017 4:24 am JST
- 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 Wan Cheang
- Chief Operating Officer: Eunice Chan
- Chief Financial Officer: Wing Lok Leung
- Assistant General Manager: Shun Chuen Lau
- Head-Retail Banking & Wealth Management: Margaret Kwan
- HSBC Holdings Plc(62.1%)
- BlackRock Fund Advisors(1.0%)
- The Vanguard Group, Inc.(0.9%)
- Norges Bank Investment Management(0.5%)
- Capital Research & Management Co. (Global Investors)(0.4%)
- State Street Global Advisors Asia Ltd.(0.4%)
- Hang Seng Investment Management Ltd.(0.2%)
- BlackRock Advisors (UK) Ltd.(0.1%)
- JPMorgan Investment Management, Inc.(0.1%)
- APG Asset Management NV(0.1%)
- Website: http://www.hangseng.com
- Address: 83 Des Voeux Road, Central, Hong Kong, Hong Kong
- Phone: +852.2198.1111
Copyright © 2018 FactSet Research Systems Inc. All rights reserved.