Dah Sing Banking Group Limited (HKEx: 2356) Is A Subsidiary Of Dah Sing Financial Holdings Limited (HKEx: 0440) Dedicated To Providing Personal Banking, Commercial Banking And Treasury Services In Hong Kong Under The Name "Dah Sing Bank". Established In Hong Kong On May 1, 1947, The Company Is Registered In Hong Kong. The Chairperson Of The Board Of Directors Is Wang Shouye, And The Managing Director And Chief Executive Officer Is Wang Zuxing.
Dah Sing Banking Group Limited Owns Three Banking Subsidiaries (Dah Sing Bank, Limited, Banco Comercial De Macau, S.A. And Dah Sing Bank (China) Limited), Which Provide Banking And Financial Services Through A Branch Network Of Approximately 70 Branches In Hong Kong, Macau And The Chinese Mainland, As Well As A Securities Trading Company.
As Of 31 December 2019, Dah Sing Banking Group Limited Recorded Gross Assets Of HK $243.40 Billion, Gross Shareholders' Equity Of HK $27.30 Billion, Gross Customer Loans Of HK $135.90 Billion And Pure Profit Of HK $2.20 Billion.
History
In 1947, Dah Sing Bank Was Founded By The Yang Yuanlong Family Who Had Established Wing Tai Bank In Shanghai.
In The 1950s, Wang Shixin Began To Invest In Dah Sing Bank. By 1972, His Family Had Become The Majority Shareholder Of Dah Sing Bank.
In 1987, Dah Sing Bank Acquired Hong Kong Industrial And Commercial Bank And Listed On The Hong Kong Stock Exchange Under The Name Of Dah Sing Financial Holdings Limited.
In 1990, Dah Sing Life Assurance Company Limited Was Established.
In 1993, Dah Sing Financial Holdings Limited Acquired Wing On Bank, And Its Assets And Business Were Transferred To Dah Sing Bank, Limited, A Subsidiary Of Dah Sing Financial Holdings Limited.
In 1994, Dah Sing Bank, Limited Sold Its 40% Interest In Hong Kong Industrial And Commercial Bank To China Construction Bank.
1997 Dah Sing Financial Holdings Limited Entered Into A Joint Venture Agreement With ABN AMRO Bank And Hambros Bank To Transform Wing On Bank Into A Hong Kong-based Joint Venture Private Bank Named DAHP Private Bank Limited.
1998 Dah Sing Bank, Limited Sold Another 30% Interest In Jianxin Bank (formerly Known As Hong Kong Industrial And Commercial Bank) To China Construction Bank.
In 2000, Dah Sing Financial Holdings Limited Acquired The Interests Of ABN AMRO Nominees Limited And SG Hambros (formerly Known As Hambros Bank Limited) In DAHP Private Bank In Hong Kong, And Became A Wholly-owned Subsidiary Of Dah Sing Financial Holdings Limited. Its Hong Kong Private Banking Business, Loans And Deposits Were Transferred To Dah Sing Bank, Limited.
In 2002, China Construction Bank Acquired The Full Equity Stake In Dah Sing Bank, Limited, Which Was Left Over From Jianxin Bank.
In 2004, Dah Sing Financial Holdings Limited Underwent A Business Reorganization And Established Dah Sing Banking Group Limited, Which Is The Holding Company Of Dah Sing Bank, Limited And Is Listed On The Stock Exchange Of Hong Kong.
In 2005, Dah Sing Banking Group Limited Spent 936 Million Hong Kong Dollars To Acquire ItaúBBA Finance (Hong Kong) Limited, Which Operates Credit Business In Hong Kong. In The Same Year, Dah Sing Bank, Limited Acquired Banco Comercial De Macau, S.A. For 1.669 Billion Hong Kong Dollars And Obtained A 96% Stake In The Insurance Subsidiary Of Banco Comercial De Macau, S.A.
In 2007, Dah Sing Bank Acquired A 17% Stake In Bank Of Chongqing, And Bank Of Chongqing Became An Associate Company Of Dah Sing Bank.
2010 Dah Sing Bank And Fubon Bank (Hong Kong) Limited (formerly DAHP Private Bank) Integrated Their Brands.
2011 Anji Finance Limited Was Established As A Subsidiary Of Dah Sing Bank, Limited And A Member Of Dah Sing Financial Holdings Limited.
March 26, 2014 Dah Sing Bank Rights Issue Funding. Dah Sing Bank Proposes A 33.99% Discount Of 12 Shares Per 100 Shares At $8 Per Share Price And Up To $1.205 Billion To Raise Capital To Meet Capital Requirements. To Cover The Funding Requirements Of The Dah Sing Bank Rights Issue, Its Parent Company, Dah Sing Financial Holdings Limited (440), Also Offers A 34% Discount Of Up To $903 Million Per 100 Shares.
In 2017, Dah Sing Financial Holdings Limited Sold The Entire Issued Share Capital Of Its Dah Sing Life Assurance Company Limited, Dah Sing Insurance Services Limited And Macau Life Insurance Company Limited To Tahoe Investment Group.
