Industrial and Commercial Bank of China (Macau) Limited (“ICBC Macau”) is a group member of Industrial and Commercial Bank of China Limited (“ICBC”), which holds its 89.33% interest as at the end of 2011.
ICBC Macau is the result of a merger between the former Seng Heng Bank Limited (“SHB”) and ICBC Macau Branch (“Macau Branch”), and was renamed as Industrial and Commercial Bank of China (Macau) Limited (“ICBC Macau”) upon completion of the acquisition.
SHB was incorporated in Macau in 1972, and had a history of 37 years of service to the local customers and facilitating growth inMacau. On 28 January 2008, ICBC completed to acquire 79.93% shareholdings in the former SHB, and which became a member of the ICBC group.
Macau Branch was established in May 2003 as one of ICBC’s overseas branches. Since its entrance to theMacaumarket, the branch had been growing at a rapid pace.
On 11 July 2009, ICBC first transferred to SHB all assets, rights and obligations of Macau Branch with additional cash capital. After which SHB was officially renamed as Industrial and Commercial Bank ofChina(Macau) Limited (“ICBC Macau”), and ICBC succeeded in brand unification and complementary advantages inMacau.
On 23 August 2010, ICBC Macau received another capital increase by shareholders. As such, the Bank has been operating with stronger business capacity and more solid finance strength with incessantly deepening its risk management at all levels, and advancing in network construction, business innovation, process optimization, and internal administration, the Bank has made significant progresses and also in building its staff and corporate culture. This resulted in a leap in the market standing and influence for the Bank and contributed to its leading position on business scale and performance in the industry.
At the end of 2011, ICBC Macau had 3 subsidiaries, 16 branches, 4 Wealth Management Centers, 4 Securities Trading Centers, 1 Peony Credit Card VIP Service Center, 1 SME Service Center, and a network of 142 ATMs located across Macau.