Overseas Chinese Banks
Encyclopedia
Overseas Chinese banks excelled in commerce, finance, and many other industries. They created many banks originally to remit money back to China
but now they cater to the people of their adopted countries. These overseas Chinese
banks contributed to a large extent to the development of the countries and communities in which they were located. Overseas Chinese banks normally refer to Chinese bank
s outside of China, Taiwan
, Hong Kong and Macau
.
where the local overseas Chinese population plays a significant if not dominant role in the local economy.
Indonesia
Singapore
Philippines
Thailand
. However, unlike Southeast Asia where Chinese play dominant roles in the local economy, the Chinese American
's share of the highly developed American economy is small and most oversea Chinese banks in the United States are privately held.
mirroring the traditional population distribution of the Chinese Americans in the United States. Recently, some overseas Chinese banks began to open offices in other parts of the country following the new Chinese immigration
pattern.
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...
but now they cater to the people of their adopted countries. These overseas Chinese
Overseas Chinese
Overseas Chinese are people of Chinese birth or descent who live outside the Greater China Area . People of partial Chinese ancestry living outside the Greater China Area may also consider themselves Overseas Chinese....
banks contributed to a large extent to the development of the countries and communities in which they were located. Overseas Chinese banks normally refer to Chinese bank
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:...
s outside of China, Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
, Hong Kong and Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
.
Southeast Asia
The Overseas Chinese banks are mostly situated in Southeast AsiaSoutheast Asia
Southeast Asia, South-East Asia, South East Asia or Southeastern Asia is a subregion of Asia, consisting of the countries that are geographically south of China, east of India, west of New Guinea and north of Australia. The region lies on the intersection of geological plates, with heavy seismic...
where the local overseas Chinese population plays a significant if not dominant role in the local economy.
IndonesiaIndonesiaIndonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
- Bank Buana (Part of United Overseas BankUnited Overseas BankUnited Overseas Bank Limited , abbreviated as UOB is a bank incorporated in Singapore. It was founded 6 August 1935 by Kuching-born Datuk Wee Kheng Chiang, father of the present United Overseas Bank Group Chairman, Mr...
) - Lippo Banking Group
- Panin Bank (No.11 Overseas Chinese Bank)
- NISP Bank (Part of Oversea-Chinese Banking CorporationOversea-Chinese Banking CorporationThe Oversea-Chinese Banking Corporation Limited , abbreviated as OCBC Bank , is a publicly listed financial services organisation with its head office in Singapore. OCBC Bank is one of Singapore's leading local banks, with group assets of more than 224 billion SGD. It has one of the highest bank...
)
SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
- DBS BankDBS BankDBS Bank Ltd is a bank incorporated in Singapore. It was previously known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank....
(No.1 Overseas Chinese Bank) - United Overseas BankUnited Overseas BankUnited Overseas Bank Limited , abbreviated as UOB is a bank incorporated in Singapore. It was founded 6 August 1935 by Kuching-born Datuk Wee Kheng Chiang, father of the present United Overseas Bank Group Chairman, Mr...
(No.2 Overseas Chinese Bank) - Oversea-Chinese Banking CorporationOversea-Chinese Banking CorporationThe Oversea-Chinese Banking Corporation Limited , abbreviated as OCBC Bank , is a publicly listed financial services organisation with its head office in Singapore. OCBC Bank is one of Singapore's leading local banks, with group assets of more than 224 billion SGD. It has one of the highest bank...
(No.3 Overseas Chinese Bank)
Malaysia
- Public BankPublic BankPublic Bank Berhad is a bank based in Malaysia. Public Bank is currently the biggest domestic bank in Malaysia by shareholders' funds. It focuses on retail customers and small to medium sized enterprises. The bank was founded in 1966 by Teh Hong Piow, the then general manager of Malayan Banking...
(No.4 Overseas Chinese Bank) - Hong Leong BankHong Leong BankHong Leong Bank is a bank in Malaysia.Hong Leong Bank was founded by Mr LAM Ji Chiew and began its operations in 1905 in Kuching, Sarawak under the name of Kwong Lee Mortgage & Remittance Company. The company granted loans against the security of export commodities such as pepper, rubber and other...
(No.6 Overseas Chinese Bank)
PhilippinesPhilippinesThe Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
- Banco de Oro Universal BankBanco de Oro Universal BankBanco de Oro Universal Bank , commonly known as Banco de Oro and BDO, is a major bank in the Philippines. It is owned by the SM Group of Companies, one of the country's largest conglomerates and owner of the SM chain of malls...
- Philippine National BankPhilippine National BankThe Philippine National Bank is one of the largest banks in the Philippines, ranking fourth in terms of assets...
(No.12 Overseas Chinese Bank) - Metropolitan Bank and Trust CompanyMetropolitan Bank and Trust CompanyThe Metropolitan Bank and Trust Company , commonly known as Metrobank. It has a diverse offering of financial services, from regular banking to insurance. Metrobank is the second largest bank in the Philippines.-History:...
(No.9 Overseas Chinese Bank) - Rizal Commercial Banking CorporationRizal Commercial Banking CorporationThe Rizal Commercial Banking Corporation was established in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas for both commercial and investment banking...
(No.14 Overseas Chinese Bank) - China Bank (No.10 Overseas Chinese Bank)
- Security Bank Corporation (No.13 Overseas Chinese Bank)
- Philippine Savings BankPhilippine Savings BankThe Philippine Savings Bank , commonly known as PSBank or PSB, is a savings bank based in the Philippines. It is a subsidiary of Metrobank and is the second-largest savings bank in the Philippines.-Subsidiaries and affiliates:...
(No.15 Overseas Chinese Bank) (part of Metropolitan Bank and Trust CompanyMetropolitan Bank and Trust CompanyThe Metropolitan Bank and Trust Company , commonly known as Metrobank. It has a diverse offering of financial services, from regular banking to insurance. Metrobank is the second largest bank in the Philippines.-History:...
)
ThailandThailandThailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
- Bangkok BankBangkok BankBangkok Bank Public Company Limited , is a Thai commercial bank, with approximately US$64.6 billion in total assets. Its branch network includes over 1000 branches within Thailand, with 25 international branches or representative offices in 13 economies, spanning ASEAN and major economic countries,...
(No.5 Overseas Chinese Bank and No.1 ThaiThailandThailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
Bank) - Kasikorn BankKasikorn BankKasikornbank Public Company Limited formerly known as the Thai Farmers Bank was established on 8 June 1945 by Choti Lamsam, with registered capital of Baht 5 million and has been listed on the Stock Exchange of Thailand since 1976...
(No.7 Overseas Chinese Bank and No.3 ThaiThailandThailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
Bank) - Bank of Ayudhya (No.8 Overseas Chinese Bank)
- Bank of Asia (Part of United Overseas BankUnited Overseas BankUnited Overseas Bank Limited , abbreviated as UOB is a bank incorporated in Singapore. It was founded 6 August 1935 by Kuching-born Datuk Wee Kheng Chiang, father of the present United Overseas Bank Group Chairman, Mr...
) - Radanasin Bank (Part of United Overseas BankUnited Overseas BankUnited Overseas Bank Limited , abbreviated as UOB is a bank incorporated in Singapore. It was founded 6 August 1935 by Kuching-born Datuk Wee Kheng Chiang, father of the present United Overseas Bank Group Chairman, Mr...
to be merged with Bank of Asia)
United States
In addition to Southeast Asia, the second location where most overseas Chinese banks are is the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. However, unlike Southeast Asia where Chinese play dominant roles in the local economy, the Chinese American
Chinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
's share of the highly developed American economy is small and most oversea Chinese banks in the United States are privately held.
Strategy for survival
The oversea Chinese banks in the United States are hardly able to compete with the well established mainstream banks on equal terms and their assets are often far less than that of those well established mainstream banks. Therefore, most overseas Chinese banks in the United States adopted a different strategy than their Southeast Asian counterparts by serving a particular segment of the market. Most overseas Chinese banks are relatively small banks in terms of assets and they began as community banks catering to their local Chinese community in the United States. A few of the banks would later expand to the national level but most remain at the community level, tailoring to the specific needs of the local oversea Chinese such as helping them to remit money back to China, to provide finance for import and export businesses, and real estate.Distribution in the United States
Most overseas Chinese banks in the United States are concentrated in the western part of the country and in New York CityNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
mirroring the traditional population distribution of the Chinese Americans in the United States. Recently, some overseas Chinese banks began to open offices in other parts of the country following the new Chinese immigration
Immigration
Immigration is the act of foreigners passing or coming into a country for the purpose of permanent residence...
pattern.
List of Overseas Chinese Banks in the United States
- Abacus Federal Savings BankAbacus Federal Savings BankAbacus Federal Savings Bank is a Chinese American bank in the United States founded in December, 1984 by a group of business leaders from the Chinese community in New York City. The founders' original purpose was to provide banking services to immigrants and local residents of lower Manhattan...
- American Continental BankAmerican Continental BankAmerican Continental Bank is an overseas Chinese bank in the United States. Headquartered in Industry, California, with a branch office in San Gabriel, California, this privately-held community bank was established on October 6, 2003....
- American Premier BankAmerican Premier BankAmerican Premier Bank is a California state bank established by Chinese Americans in the United States. Headquartered in Arcadia, California, this is a privately-held community bank established on July 7, 2003....
- Asia Bank N.A.
- Bank of the OrientBank of the OrientBank of the Orient is an overseas Chinese bank in the United States.Headquartered in San Francisco, with branch offices in Industry, California, Hawaii, and Xiamen, this privately-held bank is one of few overseas Chinese banks in the United States that has successfully expanded beyond their...
- Cathay BankCathay BankCathay Bank is a Chinese American bank based in Los Angeles, California. Founded in 1962, it has since expanded its network throughout California and into Massachusetts, New York, Texas, Washington, Illinois, and New Jersey...
- Chinatrust Bank
- Chinese American BankChinese American BankThe Chinese American Bank was an overseas Chinese bank in the United States headquartered in New York City, with branch offices in Chinatown, Manhattan and in Chinatown, Flushing....
- Eastbank N.A.
- East West BankEast West BankEast West Bank is a Chinese American bank in the state of California in the United States. It has 119 branch locations in northern and southern California, Georgia, Massachusetts, New York, Texas, Washington, two overseas branches in Hong Kong, one each in Shanghai and Shantou and representative...
- EverTrust BankEverTrust BankEverTrust Bank , or Ever Trust Bank and Evertrust Bank, as its advertisement often appeared in the local Chinese media, is an overseas Chinese bank in the United States...
- First American International BankFirst American International BankFirst American International Bank is an overseas Chinese bank in the United States. Headquartered in Brooklyn, with branch offices in Chinatown, Manhattan and in Chinatown, Flushing, this privately-held community bank was first established on November 15, 1999.The bank was first established to...
- First General BankFirst General BankFirst General Bank is a California chartered, FDIC insured bank organized by immigrants in the United States. Headquartered in Rowland Heights, California, with branch offices in Arcadia, Irvine, Rosemead and San Gabriel, California, this privately-held bank was first established on October 13,...
- Global Commerce BankGlobal Commerce BankGlobal Commerce Bank is an overseas Chinese bank in the United States. Headquartered in Doraville, Georgia, this privately-held community bank was first established on August 18, 1995....
- Golden Security BankGolden Security BankGolden Security Bank is a bank in the United States headquartered in Rosemead, California. This privately-held community bank was first established on August 27, 1982....
- Los Angeles National BankLos Angeles National BankLos Angeles National Bank is an overseas Chinese bank in the United States. Headquartered in Buena Park, California, with branch offices in Silver Lake, Los Angeles and Monterey Park, this privately-held community bank was first established on December 18, 1973.In contrast to other traditional...
- MetroCorp BancsharesMetroCorp BancsharesMetroCorp Bancshares, Inc. is an American banking corporation headquartered in Chinatown and in Greater Sharpstown in Houston, Texas....
- Omni Bank (California)Omni Bank (California)Omni Bank is an overseas Chinese bank in the United States. Headquartered in Alhambra, California, with branch offices in Irvine, California, Monterey Park, California, Rowland Heights, California, and San Jose, California, this privately-held community bank was first established in 1979...
- Pacific Global BankPacific Global BankPacific Global Bank is an overseas Chinese bank in the United States. Headquartered in Chicago, with a branch office in Chinatown, Chicago, this privately-held community bank was established November 9, 1995....
- Preferred BankPreferred BankPreferred Bank is a California state chartered bank operating in Southern California, United States.Headquartered in Los Angeles, with branch offices in Arcadia, Alhambra, Century City, Los Angeles, California, Diamond Bar, California, City of Industry, California, Anaheim, Pico Rivera,...
- Southwestern National BankSouthwestern National BankSouthwestern National Bank is an overseas Chinese bank in the United States with headquarters in Chinatown and in Greater Sharpstown in Houston, Texas...
- Tomato BankTomato BankTomato Bank , more commonly known as TomatoBank, is an overseas Chinese bank in the United States. Headquartered in Alhambra, California, with branch offices in Cerritos, California, Diamond Bar, California, Industry, California, and West Los Angeles, Los Angeles, California, this privately-held...
- United Commercial BankUnited Commercial BankUnited Commercial Bank was an overseas Chinese bank in the United States, based in San Francisco, CA. It was a subsidiary of UCBH Holdings. Founded in 1974 as United Federal Savings and Loan Association, it changed its name to United Savings Bank, and finally United Commercial Bank in 1998...
- United International BankUnited International BankUnited International Bank is an overseas Chinese bank in the United States, and headquartered in New York City, New York, United States.The bank established itself as a locally-based community bank serving Chinese Americans and Asian Americans in the New York City area, and most of its clients are...
- United Orient BankUnited Orient BankUnited Orient Bank is an overseas Chinese bank in the United States. Headquartered in New York City, with branch office in Chinatown, Manhattan, this privately-held community bank claims itself as the first indigenous community bank in Chinatown, Manhattan when it was first established on April...
- Universal BankUniversal BankUniversal Bank is an overseas Chinese bank in the United States. Headquartered in West Covina, California, with branch offices in Arcadia, California, Eagle Rock, Los Angeles, California, Monterey Park, California, Orange, California, and Rosemead, California, this privately-held community bank...