Chiyu Banking Corporation Limited Is Registered And Opened In Hong Kong And Is A Licensed Bank. It Was Founded In Hong Kong On July 15, 1947 By Nanyang Overseas Chinese Chen Ka Kee And Others From Jimei Society, Whose Ancestral Home In Tong'an County, Fujian Province. The Purpose Is To Solve The Dilemma Of Jimei University's Shortage Of Funds. The Establishment Capital Is 100,000 Hong Kong Dollars, And Dividends And Dividends Are Obtained From It, So That Jimei University Has A Long-term And Stable Source Of Funds.

The Registered Address Of Chiyu Bank Is At The Jiyou Bank Building, No. 78 Des Voeux Road Central, Hong Kong. Certified Public Accountant Is Ernest & Young Accounting Firm.

History

On October 1, 1943, It Was Established In Yong'an, The Temporary Provincial Capital Of Fujian; During The Anti-Japanese War, Branches Or Offices Were Established In Dongxing, Liuzhou And Quanzhou To Facilitate The Remittance Of Overseas Chinese To Support The Anti-Japanese War.

After The Victory Of The Anti-Japanese War In 1945, It Was Moved To Xiamen; Chiyu Banking Corporation Officially Opened In Hong Kong On July 15, 1947, Becoming The 39th Licensed Bank In Hong Kong.

On December 1, 1949, The Head Office In Xiamen Resumed Business. In September 1950, Chiyu Banking Corporation Established A Branch In Shanghai. In 1951, Chiyu Banking Corporation Was Allowed To Act As An Agent For Various Savings Deposits Of People's Bank Of China; In 1952, It Was Allowed To Act As An Agent For The Overseas Chinese Savings Deposit Business Of Bank Of China.

In 1952, Chiyu Banking Corporation Became A Member Of The Association Of Foreign Exchange Banks And The Hong Kong Bank Clearing House, And Became An Authorized Foreign Exchange Bank In 1959.

Chiyu Banking Corporation Also Experienced A Crisis Due To The 1965 Bank Run In Hong Kong. In 1970, Bank Of China Hong Kong Branch Increased Its Capital To Chiyu Banking Corporation By 5 Million Hong Kong Dollars, Becoming The Largest Shareholder Of Chiyu Banking Corporation, Defusing The Crisis Of Chiyu Banking Corporation.

In 1972, Chiyu Banking Corporation Xiamen Head Office, Shanghai Branch And Other Mainland Banks Were Successively Merged Into People's Bank Of China.

On April 2, 1985, Chiyu Banking Corporation Resumed The Establishment Of An Office In Xiamen, And On November 8 Of The Same Year, It Resumed The Establishment Of Xiamen Branch.

Chiyu Banking Corporation Has 23 Branches In Hong Kong. There Are Two Branches In Fuzhou City, Fujian Province, And Three Branches In Xiamen City. In 1997, The Bank's Total Assets Ranked 603rd In The World Bank.

Chiyu Banking Corporation Was Originally A Member Of Bank Of China Group. On October 1, 2001, The Structure Of Bank Of China Group Was Restructured, And Chiyu Banking Corporation Was Incorporated Into A Subsidiary Of Bank Of China (Hong Kong) Limited. Since Bank Of China (Hong Kong) Only Holds 71% Of The Equity Of Chiyu Banking Corporation, And The Private Jimei School Committee Holds Part Of The Equity. To Respect The Interests Of Minority Shareholders, Its Brand Has Been Retained And Has Not Been Merged Into Bank Of China (Hong Kong).

On December 22, 2016, Bank Of China (Hong Kong) Holdings Limited Sold 2.1148 Million Shares Of Chiyu Banking Corporation For 7.685 Billion Yuan, Accounting For About 70.49% Of The Total Issued Shares Of Chiyu. 1.9294 Million Shares (accounting For 64.31%) Were Sold To Xiamen International Investment Limited, And The Remaining 185,400 Shares (accounting For 6.18%) Were Sold To The Jimei School Committee Through The Private Jimei School Fund. Currently, The Private Jimei School Fund Also Holds 13.88% Equity Interest (416,000 Shares) In Chiyu Banking Corporation. Relative To The Net Asset Value Of Chiyu Banking Corporation (approximately HK $6.70 Billion In Mid-2016), The Transaction Price Is Equal To About 1.6 Times The Price-to-book Ratio. The Sale Plan Has Been Approved By The Ministry Of Finance Of The People's Republic Of China And Approved In Principle By The HKMA.

On March 27, 2017, The Two Parties Jointly Announced That All Work Related To The Transfer Of Equity Of Chiyu Banking Corporation Has Been Successfully Completed, And Chiyu Banking Corporation Will Become A Subsidiary Of Xiamen International Bank With Immediate Effect.

On December 26, 2018, Chiyu Banking Corporation Was Officially Approved By The China Banking And Insurance Regulatory Commission To Establish A Shenzhen Branch. It Is The First Foreign-funded Financial Institution Group To Be Approved For Establishment After The Institutional Reform Of The China Banking And Insurance Regulatory Commission.