View source for Hang Seng Bank

{{Short description|Hong Kong Bank}}
{{EngvarB|date=July 2014}}
{{Use dmy dates|date=December 2023}}
{{Infobox company
| name = Hang Seng Bank Limited
| native_name = {{lang|zh|恒生銀行有限公司}}
| logo = HSB.svg
| image= File:香港 Hong Kong 中環 Central 恒生銀行總行大廈 Hang Seng Bank Headquarters Building, 2024.jpg
| image_size = 220px
| image_caption = [[Hang Seng Bank Headquarters Building|Headquarters]] in [[Hong Kong]]
| type = [[Public company|Public]] ([[subsidiary]])
| traded_as = {{ubl|{{SEHK|11}}|[[Hang Seng Index]] component}}
| parent = [[HSBC|HSBC Group]] (63.04%)
| foundation = {{start date and age|df=yes|1933|03|03}}
| founders = [[Lam Bing Yim]], [[Ho Sin Hang]], [[Leung Chik Wai]], [[Ho Tim]], and [[Ho, Lian Shen]]
| location = [[Hang Seng Bank Headquarters Building]], Central, Hong Kong
| key_people = {{Unbulleted list |[[Edward Cheng]] (chairman) | [[Luanne Lim]] (vice-chairman and CEO)}}
| operating_income = {{unbulleted list|{{increase}} [[HKD]] 28.6&nbsp;billion (2019)}} <ref name=AR2019>{{cite web|url=https://www.hangseng.com/cms/fin/file/statement/ar_2019_full_en.pdf|title=Hang Seng Bank Annual Report 2019}}</ref>
| net_income = {{increase}} [[HKD]] 24.8&nbsp;billion (2019) <ref name=AR2019/>
| assets = {{increase}} [[HKD]] 1,677.0&nbsp;billion (2019) <ref name=AR2019/>
| num_employees = over 9,680
| industry = [[Finance and insurance]]
| products = [[Financial services]]
| homepage = {{URL|hangseng.com}}
}}
{{Chinese
| title = Hang Seng Bank
| t = 恒生銀行
| s = 恒生银行
| p = Héngshēng Yínháng
| y = Hàhngsāng Ngàhnhòhng
| j = Hang4sang1 Ngan4hong4
| l = ever-growing bank
| altname = Hang Seng Bank Limited
| t2 = 恒生銀行有限公司
| s2 = 恒生银行有限公司
| p2 = Héngshēng Yínháng Yǒuxiàn gōngsī
| y2 = Hàhngsāng Ngàhnhòhng Yáuhhaahn Gūngsī
| j2 = Hang4sang1 Ngan4hong4 Jau5haan6 Gung1si1
}}

'''Hang Seng Bank Limited''' ({{zh|t=恒生銀行有限公司}}) is a Hong Kong–based banking and [[financial services]] company with headquarters in [[Central, Hong Kong]].  It is one of Hong Kong's leading public companies in terms of [[market capitalisation]] and is part of the [[HSBC|HSBC Group]], which holds a majority equity interest in the bank.<ref name="Bank Profile and History">{{cite web|title=Bank Profile and History|url=http://bank.hangseng.com/1/2/about-us/corporate-info/bank-profile|work=Hang Seng Bank|publisher=Hang Seng Bank Limited|access-date=12 February 2018}}</ref>

Hang Seng Bank is a [[commercial bank]] whose major business activities include [[retail bank]]ing, [[wealth management]], [[commercial banking]], treasury services, and [[private banking]].<ref name="Bank Profile and History" /> Hang Seng Bank operates a network of around 260 service outlets in Hong Kong.<ref name="Bank Profile and History" /> It also has a wholly owned subsidiary in [[mainland China]], Hang Seng Bank (China) Limited, which has a network of 46 branches and sub branches.<ref name="Profile and History">{{cite web|title=Profile and History|url=http://www.hangseng.com.cn/1/2/about-us/profile-history|work=Hang Seng Bank|publisher=Hang Seng Bank (China) Limited|access-date=12 February 2018}}</ref>

It established the [[Hang Seng Index]] as a public service in 1969 and this stock market index is now generally known as the primary indicator of the Hong Kong stock market.<ref name="Company Profile">{{cite web|title=Company Profile|url=http://www.hsi.com.hk/HSI-Net/HSI-Net|work=Hang Seng Indexes|publisher=Hang Seng Indexes Company Limited|access-date=2 April 2013|archive-url=https://web.archive.org/web/20130327040457/http://www.hsi.com.hk/HSI-Net/HSI-Net|archive-date=27 March 2013|url-status=dead}}</ref>

== History ==

In 1933, business partners [[Lam Bing Yim]] ([[:zh:林炳炎|林炳炎]]), [[Ho Sin Hang]], Sheng Tsun Lin ([[:zh:盛春霖|盛春霖]]), and Leung Chik Wai ([[:zh:梁植偉|梁植偉]]) founded Hang Seng [[Ngan Ho]], the predecessor of Hang Seng Bank, in Hong Kong.<ref>{{cite book |last1=Kwan |first1=Stanley S. K. |author-link=Stanley Kwan (banker) |title=The Dragon and the Crown |year=2009 |publisher=Hong Kong University Press |isbn=9789622099555 |pages=[https://archive.org/details/dragoncrownhongk00kwan/page/101 101]–131 |url=https://archive.org/details/dragoncrownhongk00kwan}}</ref> Hang Seng means "ever-growing" in [[Cantonese]].<ref name="ever-growing bank">{{cite journal|last=Wong|first=Wendy Siuyi|title=The Rise of Consumer Culture in a Chinese Society: A Reading of Banking Television Commercials in Hong Kong During the 1970s|journal=Mass Communication and Society|date=November 2000|volume=3|issue=4|pages=393–413|doi=10.1207/S15327825MCS0304_04|url=http://resolver.scholarsportal.info/resolve/15205436/v03i0004/393_trocciihkdt1|access-date=2 April 2013|hdl=10315/2476|s2cid=144182745|hdl-access=free}}</ref> It commenced business as a simple money-changing shop at 70 Wing Lok Street, [[Sheung Wan]], on 3 March 1933.<ref name="Hang Seng Celebrates 80 Years" /> In 1952, Hang Seng Bank became a private company and embarked on [[commercial banking]].<ref name="Major Milestones 1933 - 2012">{{cite web|title=Major Milestones 1933 – 2012|url=http://bank.hangseng.com/1/2/about-us/corporate-info/major-milestones|work=Hang Seng Bank|publisher=Hang Seng Bank Limited|access-date=2 April 2013}}</ref> Hang Seng Bank converted into a public company in 1960.<ref name="Major Milestones 1933 - 2012"/> In 1965, Hang Seng Bank suffered a [[bank run]] which depleted almost one-quarter of its reserves. As a result, [[The Hongkong and Shanghai Banking Corporation]] (HSBC) acquired a controlling 51% interest in Hang Seng Bank, which it later increased to 62.14%.<ref name="Major Milestones 1933 - 2012" />

In 1969, the [[Hang Seng Index]] was introduced as a public service.<ref name="Company Profile"/> The index is now generally known as an indicator of the Hong Kong stock market.<ref name="Company Profile"/> Hang Seng Bank was listed on the [[Stock Exchange of Hong Kong]] (SEHK) in 1972.<ref name="Major Milestones 1933 - 2012"/> In 1981, Hang Seng Bank was given permission to run branches in [[MTR]] stations.<ref name="Major Milestones 1933 - 2012"/> Hang Seng Bank began to extend its business to [[China]]<ref>It is standard to refer to Hong Kong and China without the word "mainland" for events occurred during the British era, as demonstrated in this document "banknote in Hong Kong and China in 1865 to stimulate ..." [https://www.hsbc.com/-/media/hsbc-com/about-hsbc/history/pdfs/140113-hsbc-our-story.pdf] {{Webarchive|url=https://web.archive.org/web/20180508090525/http://www.hsbc.com/-/media/hsbc-com/about-hsbc/history/pdfs/140113-hsbc-our-story.pdf|date=8 May 2018}}</ref> in 1985,<ref name="Major Milestones 1933 - 2012" /> with the opening of a representative office in [[Shenzhen]].<ref name="Major Milestones 1933 - 2012" /> Ten years later, Hang Seng Bank opened its first Chinese branch in [[Guangzhou]].<ref name="Major Milestones 1933 - 2012" />

In 2002, Hang Seng Bank began to launch personal e-banking in mainland China.<ref>{{cite journal|last=Chen|first=Z.|author2=D. Li|author3=F. Moshirian|title=China's financial services industry: The intra-industry effects of privatization of the Bank of China Hong Kong|journal=Journal of Banking and Finance|date=August 2005|volume=29|issue=8–9|pages=2291–2324|doi=10.1016/j.jbankfin.2005.03.016|s2cid=25884792|url=http://resolver.scholarsportal.info/resolve/03784266/v29i8-9/2291_cfsititbochk|access-date=2 April 2013|archive-date=14 December 2019|archive-url=https://web.archive.org/web/20191214001147/http://resolver.scholarsportal.info/resolve/03784266/v29i8-9/2291_cfsititbochk|url-status=dead|url-access=subscription}}</ref> Hang Seng Bank opened its branch in [[Macau]] in 2003.<ref name="Major Milestones 1933 - 2012" /> In 2006, Hang Seng Bank received authorisation to get ready for the formation of its mainland China subsidiary bank.<ref name="Major Milestones 1933 - 2012" /> Within the same year, Hang Seng Bank introduced a brand revitalisation program and presented a new company slogan – Managing wealth for you, with you.<ref name="Major Milestones 1933 - 2012"/>

The [[China Banking Regulatory Commission]] (CBRC) authorised the formation of Hang Seng Bank (China) Limited, the mainland China subsidiary bank of Hang Seng Bank<ref name="Major Milestones 1933 - 2012"/> on 28 May 2007.<ref name="Profile and History"/> In November, Hang Seng Bank opened its new Hong Kong office at [[MegaBox (shopping mall)|MegaBox]], [[Kowloon Bay]].<ref name="Major Milestones 1933 - 2012"/> Hang Seng Bank became the first bank in Hong Kong to fix the [[renminbi]] (RMB) prime rate in 2010.<ref name="Major Milestones 1933 - 2012"/>

In February 2012, Hang Seng Bank introduced the world's first [[RMB]] gold [[exchange-traded fund]] (ETF).<ref name="Major Milestones 1933 - 2012"/><ref>{{cite news|title=HANG SENG BANK TO LAUNCH FIRST RMB-DENOMINATED GOLD ETF|newspaper=Asia Pulse|date=1 February 2012|id={{ProQuest|918903380}}}}</ref> The brand value of Hang Seng Bank was ranked 65th globally in the 2012 Brand Finance Banking 500, the highest ranking for Hong Kong banks.<ref name="Financial Strength">{{cite web|title=Financial Strength|url=http://bank.hangseng.com/1/2/about-us/corporate-info/financial-strength|work=Hang Seng Bank|publisher=Hang Seng Bank Limited|access-date=2 April 2013}}</ref>

In October 2025, [[HSBC]], the majority shareholder of Hang Seng Bank, announced that it would [[privatise]] Hang Seng Bank by purchasing the 38% that it didn't already own, and take the company off the SEHK after completion.<ref>{{Cite press release |title=HSBC proposes to privatise Hang Seng Bank |url=https://www.hsbc.com/news-and-views/news/hsbc-news-archive/hsbc-proposes-to-privatise-hang-seng-bank |access-date=2025-10-09 |date=2025-10-09 |publisher=HSBC |language=en}}</ref><ref>{{Cite news |last=Choudhury |first=Ambereen |last2=Wee |first2=Denise |date=2025-10-09 |title=HSBC Plans to Privatize Hang Seng at $37 Billion Valuation |url=https://www.bloomberg.com/news/articles/2025-10-09/hsbc-proposes-to-privatize-hang-seng-bank-continue-brand |access-date=2025-10-09 |work=Bloomberg.com |language=en}}</ref><ref>{{Cite news |last=Murdoch |first=Scott |last2=Li |first2=Selena |date=9 October 2025 |title=HSBC proposes $13.6 billion privatisation of Hong Kong's Hang Seng Bank |url=https://www.reuters.com/business/finance/hsbc-proposes-privatise-hang-seng-bank-3736-billion-2025-10-09/ |agency=Reuters}}</ref>

==Overview==
[[File:Hang Seng Bank Central Branch January 2022.jpg|thumb|220px|[[Central, Hong Kong|Central]] Branch]]

Hang Seng Bank is a [[commercial bank]] whose major business activities include retail banking and [[wealth management]], corporate and [[commercial banking]], treasury services, and [[private banking]].<ref name="Bank Profile and History"/> Hang Seng Bank operates a network of around 260 service outlets in Hong Kong.<ref name="Bank Profile and History"/> Hang Seng Bank is the only local bank to offer extensive branch services along [[Mass Transit Railway]] (MTR) stations to better serve its customers.<ref name="Hang Seng Celebrates 80 Years">{{cite news|title=Hang Seng Bank: Hang Seng Celebrates 80 Years of Service Excellence|newspaper=Hong Kong Government News|date=3 March 2013|id={{ProQuest|1314365633}}}}</ref>

Hang Seng Bank established its wholly owned subsidiary, Hang Seng Bank (China) Limited, in 2007.<ref name="Profile and History"/> The subsidiary runs a [[mainland China]] network of 46 outlets in Beijing, Shanghai, [[Guangzhou]], [[Shenzhen]], [[Dongguan]], [[Fuzhou]], [[Nanjing]], [[Hangzhou]], [[Ningbo]], Tianjin, [[Kunming]], [[Foshan]], [[Zhongshan]], [[Huizhou]], [[Xiamen]], [[Zhuhai]] and [[Jiangmen]] with 12 branches and 34 sub-branches.<ref name="Profile and History"/> For foreign currency wholesale business, Hang Seng Bank maintains branches in [[Shenzhen]], Macau and Singapore, as well as a representative office in [[Taipei]].<ref name="Bank Profile and History"/>

The current chairperson is Mr. Edward Cheng.<ref name="Board of Directors">{{cite web|title=Board of Directors|url=http://bank.hangseng.com/1/2/about-us/directors-organisation/board-of-directors|work=Hang Seng Bank|publisher=Hang Seng Bank Limited|access-date=12 February 2018}}</ref> The current [[Vice-Chairman]] and chief executive officer (CEO) is Ms. Luanne Lim.<ref name="Board of Directors"/>

=== Current leadership ===

* ''Chairman:'' Edward Cheng (since May 2025)
* ''Chief Executive:'' Luanne Lim (since October 2025)
[[File:Hang Seng Bank Logo 1954-1996.svg|thumb|214x214px|Logo of Hang Seng Bank from 1954 to 1996]]

=== List of former chairmen ===
''Role of chairman began in 1952, after incorporation as a bank''
# [[Ho Sin Hang|Ho Sin-hang]] (1952–1983)
# [[Lee Quo-wei|Sir Lee Quo-wei]] (1983–1996)
# [[David Eldon]] (1998–2005)
# Michael Smith (2005–2007)
# [[Raymond Chien|Raymond Ch'ien]] (2007–2021)
# Irene Lee (2021–2025)

=== List of former CEOs ===
''Role of CEO / general manager began in 1952, after incorporation as a bank''
# Ho Tim (1952–1967)
# [[Lee Quo-wei|Sir Lee Quo-wei]] (1967–1987)
# Ho Tak-ching (1987–1993)
# Alexander Au (1993–1998)
# [[Vincent Cheng Hoi-Chuen|Vincent Cheng]] (1998–2005)
# [[Raymond Or]] (2005–2009)
# [[Margaret Leung]] (2009–2012)
# [[Rose Lee Wai Mun|Rose Lee]] (2012–2017)
# Louisa Cheang (2017–2021)
# Diana Cesar (2021–2025)

==References==
{{Reflist}}

==External links==
{{commonscatinline}}
* {{Finance links
| symbol = 11
| google = HKG:+0011
| yahoo = 0011.HK
| bloomberg = 11:HK
| reuters = 0011.HK
}}
{{Portal|Hong Kong|Banks|Companies}}
* [http://www.hangseng.com Hang Seng Bank official website]

{{HSBC Group}}
{{Banks of Hong Kong}}
{{Hang Seng Index}}
{{S&P Asia 50}}

[[Category:Hang Seng Bank|Hang Seng Bank]]
[[Category:Banks established in 1933]]
[[Category:Banks of Hong Kong]]
[[Category:Companies listed on the Hong Kong Stock Exchange]]
[[Category:Companies in the Hang Seng Index]]
[[Category:Companies in the S&P Asia 50]]
[[Category:HSBC subsidiaries|Hang Seng]]
[[Category:Hong Kong brands]]
[[Category:1933 establishments in Hong Kong]]
[[Category:1965 mergers and acquisitions]]