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Standard Chartered Bank (Hong Kong)
Encyclopedia
Standard Chartered Bank (Hong Kong) Limited (Traditional Chinese: 渣打銀行(香港)有限公司) is a licensed bank incorporated in Hong Kong
, part of Standard Chartered Bank
. An office tower, the Standard Chartered Bank Building
, in Des Voeux Road
, Central
, Hong Kong is named after the bank, although it is now owned by Hang Lung Group
.
The history of Standard Chartered in Hong Kong dates back to 1859, when The Chartered Bank of India, Australia and China opened a branch in Hong Kong. The Bank started issuing banknotes of the Hong Kong dollar in 1862, and still does so today. In 2000, Standard Chartered acquired Hong Kong-based retail banking business of the Chase Manhattan Bank
, including Chase Manhattan Card Company Limited.
The Chairperson of the Board is Katherine Tsang, younger sister of the Chief Executive of Hong Kong
, Donald Tsang
, and formerly chairwoman for Greater China operations. She took up the top job on 1 January 2011, succeeding Chow Chung-Kong
, who held the post from 2004.
to issue banknotes in Hong Kong (the other two being the Bank of China (Hong Kong)
and The Hongkong and Shanghai Banking Corporation). The Bank has been issuing banknotes since the 1860s (as The Chartered Bank of India, Australia and China).
Following its incorporation in 2004, the Legislative Council of Hong Kong
amended Legal Tender Notes Issue Ordinance on 28 May; Standard Chartered Bank ceased to be a note-issuing bank and Standard Chartered Bank (Hong Kong) Limited became a note-issuing bank from 1 July.
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...
, part of Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
. An office tower, the Standard Chartered Bank Building
Standard Chartered Bank Building (Hong Kong)
The Standard Chartered Bank Building is a skyscraper located in the Central district of Hong Kong. The tower rises 42 floors and in height. The building was completed in 1990. It was designed by architectural firm P & T Architects & Engineers Ltd....
, in Des Voeux Road
Des Voeux Road
Des Voeux Road Central and Des Voeux Road West are two roads on the north shore of Hong Kong Island, Hong Kong. They were named after the 10th Governor of Hong Kong, Sir George William Des Vœux...
, Central
Central, Hong Kong
Central is the central business district of Hong Kong. It is located in Central and Western District, on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula...
, Hong Kong is named after the bank, although it is now owned by Hang Lung Group
Hang Lung Group
Hang Lung Group , established in 1960, is a private listed company in Hong Kong, engaging in property development for sales and leasing, car park management, property management and dry-cleaning businesses. Its subsidiary is Hang Lung Properties, was one of the largest property developers in Hong...
.
The history of Standard Chartered in Hong Kong dates back to 1859, when The Chartered Bank of India, Australia and China opened a branch in Hong Kong. The Bank started issuing banknotes of the Hong Kong dollar in 1862, and still does so today. In 2000, Standard Chartered acquired Hong Kong-based retail banking business of the Chase Manhattan Bank
Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...
, including Chase Manhattan Card Company Limited.
The Chairperson of the Board is Katherine Tsang, younger sister of the Chief Executive of Hong Kong
Chief Executive of Hong Kong
The Chief Executive of Hong Kong is the President of the Executive Council of Hong Kong and head of the Government of the Hong Kong Special Administrative Region. The position was created to replace the Governor of Hong Kong, who was the head of the Hong Kong government during British rule...
, Donald Tsang
Donald Tsang
Sir Donald Tsang Yam-kuen, GBM, KBE is the current Chief Executive and President of the Executive Council of the Government of Hong Kong....
, and formerly chairwoman for Greater China operations. She took up the top job on 1 January 2011, succeeding Chow Chung-Kong
Chow Chung-Kong
Sir Chung-Kong Chow is the Chief Executive Officer of MTR Corporation. He was appointed to this position on December 1, 2003....
, who held the post from 2004.
Local incorporation
On 1 July 2004, Standard Chartered completed the local incorporation of its Hong Kong businesses, namely the Hong Kong branch of Standard Chartered Bank, Manhattan Card Company Ltd, Standard Chartered Finance Ltd, Standard Chartered International Trade Products Ltd and Chartered Capital Corporation Ltd. The bank operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Ltd.Banknotes
Standard Chartered Bank (Hong Kong) Limited is one of the three commercial banks licensed by the Hong Kong Monetary AuthorityHong Kong Monetary Authority
The Hong Kong Monetary Authority or HKMA is Hong Kong's central banking institution . It is a government authority founded on 1 April 1993 via the consolidation of "Office of the Exchange Fund" and the "Office of the Commissioner of Banking"...
to issue banknotes in Hong Kong (the other two being the 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...
and The Hongkong and Shanghai Banking Corporation). The Bank has been issuing banknotes since the 1860s (as The Chartered Bank of India, Australia and China).
Following its incorporation in 2004, the Legislative Council of Hong Kong
Legislative Council of Hong Kong
The Legislative Council is the unicameral legislature of Hong Kong.-History:The Legislative Council of Hong Kong was set up in 1843 as a colonial legislature under British rule...
amended Legal Tender Notes Issue Ordinance on 28 May; Standard Chartered Bank ceased to be a note-issuing bank and Standard Chartered Bank (Hong Kong) Limited became a note-issuing bank from 1 July.
