Dah Sing Bank

Dah Sing Banking Group Limited (DSBG) is a Hong Kong-based banking and financial company, headquartered in Wan Chai. It has three main banking subsidiaries (Dah Sing Bank, Banco Comercial de Macau and Dah Sing Bank (China) Limited) providing relevant services through a branch network of around 70 branches over Hong Kong, Macau and Mainland China, and a securities trading company.

Dah Sing Bank Limited
TypePublic
  • SEHK: 2356
  • (as Dah Sing Banking Group Limited)
IndustryFinance
Founded1 May 1947 (1947-05-01)
HeadquartersEverbright Centre, 108, Gloucester Road,
Hong Kong
Key people
David Shou-Yeh Wong, Chairman
Derek Hon-Hing Wong, CEO
HKD5.4 billion (2019)[1]
HKD2.2 billion (2019)[1]
Total assets HKD243 billion (2019)[1]
Websitedahsing.com
Dah Sing Bank
Traditional Chinese大新銀行
Dah Sing Bank's branch in Des Voeux Road

The group was established on 1 May 1947.[2] Mr. David Shou-Yeh Wong was appointed as the Chairman whilst Mr. Harold Tsu-Hing Wong, the son of Mr. David Wong, joined as the Group Managing Director and Chief Executive of DSBG.

A majority share in Dah Sing Banking Group is the major asset of Dah Sing Financial Holdings Limited (大新金融集團), which undertakes insurance business and was listed on the Hong Kong Stock Exchange in 1987, and which is in turn held by the Dah Sing Group.[3] As at 31 December 2019, the group recorded the total asset as 243.4b HKD, total shareholders' funds as 27.3b HKD, customers advances as 135.9b HKD and profit attributable to shareholders as 2.2b HKD.[1]

History

1947: Establishment of Dah Sing Bank, Limited (DSB).

1987: DSB acquired Hong Kong Industrial and Commercial Bank Limited; Public listing of Dah Sing Financial Holdings Limited(DSFH)

1990: Establishment of Dah Sing Life Assurance Co. Limited.

1993: DSFH acquired Wing On Bank Limited.

1994: Dah Sing Bank transferred its 40% ownership at Hong Kong Industrial and Commercial Bank to China Construction Bank.[4]

1997: DSFH, Abbey National plc and Hambros Bank Limited went into a contract to jointly run the Wing On Bank Limited as a Hong Kong-based private bank and renamed it as DAHP.[4]

1998: Dah Sing Bank sold an additional 30% shareholding interest at Jian Sing Bank (formerly known as Hong Kong Industrial and Commercial Bank) to China Construction Bank.[4]

2000: DSFH acquired ownerships of DAHP from Abbey and SG Hambros (formerly known as Hambros Bank Limited). DAHP became a subsidiary of DSFH while the private banking business, loans and deposits from DAHP were undertaken by Dah Sing Bank.[5]

2002: China Construction Bank purchased the remaining equity interest of Jian Sing Bank from Dah Sing Bank.[4]

2004: Separate listing of Dah Sing Banking Group Limited.

2005: DSBG completed the acquisition of 100% of Pacific Finance (HK) Limited,[6][7] 100% of BCM Bank (Banco Comercial de Macau) and 96% equity interests in BCM’s general and life insurance subsidiaries from Banco Comercial Portugues.[8][9]

2007: DSB completed the acquisition of a 17% total equity interest in the Bank of Chongqing (BOCQ).[10]

2010: DSB integrated with MEVAS Bank (formerly known as DAHP).[11]

2011: Establishment of OK Finance Limited.[12]

2017: DSFH sold its entire shareholding interest in life insurance business in Hong Kong and Macau to Tahoe Investment Group Co. Limited.[13][14]

Dah Sing Financial Holdings

Dah Sing Financial Holdings was founded on 22 Apr 1987.

  • Chairman: David Wong Shou-yeh (since 1987)
  • Chief Executive: Derek Wong Hon-hing (since 2002)

List of Former Chief Executive's
  1. Ronald Carstairs (1991–2001)

Dah Sing Banking Group

Dah Sing Banking Group was founded on 11 Mar 2004.

  • Chairman: David Wong Shou-yeh (since 2004)
  • Chief Executive: Derek Wong Hon-hing (since 2017); second term

List of Former Chief Executive's
  1. Derek Wong Hon-hing (2004–2011)
  2. Harold Wong Tsu-hing (2011–2017)

Dah Sing Bank

Dah Sing Bank was founded on 1 May 1947.

  • Chairman: David Wong Shou-yeh (since 1983)
  • Chief Executive: Derek Wong Hon-hing (since 2000)

List of Former Chairmen
  1. Yang Yuan-loong (1947–1957)
  2. Wong Shih-sing (1957–1983)

List of Former Chief Executive's
  1. Edward Cheung Ting-yat (1974–1986)
  2. John William Simpson (1986–1991)
  3. Ronald Carstairs (1991–2000)

See also

References
  1. Dahsing Banking Group 2019 Annual Report
  2. Carr, J. (2012). Major Companies of The Far East and Australasia 1990/91: Volume 2: East Asia. Springer Netherlands. p. 36. ISBN 978-94-009-0807-9. Retrieved 13 October 2018.
  3. "About the company". Dah Sing Bank.
  4. Dah Sing Bank Limited, “Global Offering” (PDF). 2004.
  5. Dah Sing Financial Holdings Limited, “Review of Operations” (PDF). 2000. p. 22.
  6. "HKEX, "Completion of the acquisition of the issued share capital of pacific finance (HK) Limited"" (PDF).
  7. "HKEX, "Share purchase agreement with PFHK"" (PDF).
  8. "HKEX, "Share purchase agreement with BCP"" (PDF).
  9. "HKEX, "Completion of the acquisition of the issued share capital of BCM and CSM and CSM VIDA"" (PDF).
  10. "HKEX, "Acquisition of the issued share capital of Chongqing Commercial Bank"" (PDF).
  11. "Dah Sing Banking Group, "Dah Sing Banking Group Retail Banking Business Integration"" (PDF).
  12. "OK Finance, "Personal Information Collection Statement"".
  13. "Dah Sing Financial Holdings, "Dah Sing Group announces agreement to sell life insurance subsidiaries and enter into new bancassurance arrangements"" (PDF).
  14. "Dah Sing Banking Group, "Commencement of the Hong Kong distribution agreement, status of connected person relationship and revision of annual caps for certain existing continuing connected transactions"" (PDF).
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