Chiyu Banking Corporation
Encyclopedia
Chiyu Banking Corporation Limited (traditional Chinese: 集友銀行) is a bank
incorporated in Hong Kong
.
in 1947, and it has 23 branches in Hong Kong and focuses on serving the community of residents of Fujian
descent in Hong Kong.
Chiyu was explicitly created by Chen to create a sustainable business with profits to be devoted to education in Xiamen
and the rest of Fujian province in China
. Since its founding, it has spent more than HK$1 billion in education in the province, primarily through funding Jimei University
and its related schools.
gradually accumulated a 70% stake in Chiyu in the 1970s; the rest of the bank is held by the Jimei University
foundation, the government of Xiamen
Municipality City and minority shareholders.
Chiyu is now operated as a subsidiary of BOCHK with the same IT platform and back office support teams.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
incorporated in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
History
It was founded by Tan Kah KeeTan Kah Kee
Tan Kah Kee was a prominent businessman, community leader, and philanthropist in colonial Singapore, and a Communist leader in the People's Republic of China.- Early years :...
in 1947, and it has 23 branches in Hong Kong and focuses on serving the community of residents of Fujian
Fujian
' , formerly romanised as Fukien or Huguing or Foukien, is a province on the southeast coast of mainland China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, and Guangdong to the south. Taiwan lies to the east, across the Taiwan Strait...
descent in Hong Kong.
Chiyu was explicitly created by Chen to create a sustainable business with profits to be devoted to education in Xiamen
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...
and the rest of Fujian province in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. Since its founding, it has spent more than HK$1 billion in education in the province, primarily through funding Jimei University
Jimei University
Jimei University is a public university located in Xiamen, Fujian, People's Republic of China.-History:Founded in 1918, Jimei University was the result of combining five institutes and colleges in the Jimei Schools Village...
and its related schools.
Shareholdings
Bank of China (Hong Kong)Bank of China (Hong Kong)
Bank of China Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed...
gradually accumulated a 70% stake in Chiyu in the 1970s; the rest of the bank is held by the Jimei University
Jimei University
Jimei University is a public university located in Xiamen, Fujian, People's Republic of China.-History:Founded in 1918, Jimei University was the result of combining five institutes and colleges in the Jimei Schools Village...
foundation, the government of Xiamen
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...
Municipality City and minority shareholders.
Chiyu is now operated as a subsidiary of BOCHK with the same IT platform and back office support teams.