Tai Sang Bank Limited

Tai Sang Bank Limited is a licensed privately-owned bank based in Hong Kong.[2] The bank was established by Ma Kam Chan, a businessman from Kwangtung (now Guangdong), in 1937 after his family migrated to Hong Kong. Ma went on to serve as the Chairman of the bank until he passed away in 1984. The bank is currently chaired by Patrick Ma Ching Hang.[3] Tai Sang Bank is a member of the Hong Kong Association of Banks.[4]

Tai Sang Bank Limited
Native name
大生銀行有限公司
TypeBank
IndustryBanking
Founded1937 (1937)
FounderMa Kam Chan 馬錦燦
Headquarters130-132, Des Voeux Road Central,
City of Victoria, Hong Kong
Key people
Ma Ching Hang, Patrick Chairman
Cheung Yau Shing Chief Executive
HK$10,620,000 (2019)[1]
Number of employees
<50
WebsiteOfficial website

Network

Tai Sang operates out of a single branch on Des Veoux Road Central and does not offer any online banking or ATM services. The bank largely relies on small-scale transactions and a high degree of customer service, providing more flexible solutions than larger lenders. The bank's main clients are brokers and gold traders.[5]

US sanctions

As the United States imposed sanctions on a number of Mainland and Hong Kong officials (under the Hong Kong Human Rights and Democracy Act and the Hong Kong Autonomy Act) in the wake of the 2019 protests and the imposition of the National Security Law many multinational banks were no longer able to offer their services to those named in the sanction lists. This has increased the appeal of banks, such as Tai Sang, which do not operate outside the territory and therefore are less vulnerable to legal action for violating the sanctions.[6]

References
  1. Ma, Patrick Ching Hang. "Tai Hang Bank Annual Report (2019)" (PDF). Hong Kong Monetary Authority. Retrieved 21 November 2020.
  2. Authority, Hong Kong Monetary. "TAI SANG BANK LIMITED". Hong Kong Monetary Authority. Retrieved 21 November 2020.
  3. "Tai Sang Bank Ltd - Board of Directors". Tai Sang Bank. Retrieved 20 November 2020.
  4. "Member Banks". The Hong Kong Association of Banks. Retrieved 21 November 2020.
  5. Yiu, Enoch (28 July 2018). "A Hong Kong bank shows how it thrives without internet or an ATM". South China Morning Post. Retrieved 21 November 2020.
  6. "高官可以幫襯大生銀行？". "中環街市" column. Yahoo! Finance Hong Kong edition (in Chinese). Yahoo!. 13 August 2020. Retrieved 21 December 2020.


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