| Asia Commercial Bank ("ACB")
is a wholly owned subsidiary of Public Financial Holdings Limited, the shares of which are listed on The Stock Exchange of Hong Kong Limited (Stock Code: 626). Public Financial Holdings Limited acquired the entire issued share capital of ACB on 30 May 2006. The parent company of Public Financial Holdings Limited is Public Bank Berhad, the 3rd largest banking Group in Malaysia in terms of asset size.
The origin of ACB dated back to 1934 when the "Hong Kong
and Swatow Commercial Bank" was established in Hong Kong.
It was renamed "The Commercial Bank of Hong Kong" in
1965. In 1990, the Bank and Asia Insurance were incorporated into
Asia Financial Group which was listed on the Hong Kong Stock Exchange
that same year. In 1995, it was renamed Asia Commercial Bank under
the corporate image makeover of Asia Financial Group.
In the early years, ACB's business focused principally on international
trade finance. As Hong Kong's economy developed, ACB's business
gradually expanded to cover both commercial and retail banking
in response to the changing needs of its customers. With its network
of 12 branch offices in Hong Kong, ACB provides a wide range of
banking services including retail banking services, commercial
lending, trade financing, mortgages, foreign exchanges as well as
hire purchases and leasing for motor vehicles and machinery. Today ACB
has a branch in Shenzhen and representative offices in Shanghai, Shenyang
and Taiwan.
The Bank achieved a consolidated net profit of HK$87 million for the
year ended 31st December 2005. As at the end of the year 2005, ACB's consolidated
total assets exceeded HK$16 billion. As a licensed bank under the
Banking Ordinance (Cap.155) of Hong Kong, ACB is supervised by the
Hong Kong Monetary Authority (HKMA) and is obliged to meet the HKMA's
liquidity requirements and observe other pertinent regulations.
|
Public Bank (Hong Kong) 
