The Macau Chinese Bank Limited (Chinese :澳門華人銀行有限公司; Portuguese: Banco Chinês de Macau, S.A.) [1] is a bank in Macau, China.
Traditional Chinese characters are Chinese characters in any character set that does not contain newly created characters or character substitutions performed after 1946. They are most commonly the characters in the standardized character sets of Taiwan, of Hong Kong and Macau, and in the Kangxi Dictionary. The modern shapes of traditional Chinese characters first appeared with the emergence of the clerical script during the Han Dynasty, and have been more or less stable since the 5th century.
Portuguese is a Western Romance language originating in the Iberian Peninsula. It is the sole official language of Portugal, Brazil, Cape Verde, Guinea-Bissau, Mozambique, Angola, and São Tomé and Príncipe. It also has co-official language status in East Timor, Equatorial Guinea and Macau in China. As the result of expansion during colonial times, a cultural presence of Portuguese and Portuguese creole speakers are also found in Goa, Daman and Diu in India; in Batticaloa on the east coast of Sri Lanka; in the Indonesian island of Flores; in the Malacca state of Malaysia; and the ABC islands in the Caribbean where Papiamento is spoken, while Cape Verdean Creole is the most widely spoken Portuguese-based Creole. Reintegrationists maintain that Galician is not a separate language, but a dialect of Portuguese. A Portuguese-speaking person or nation is referred to as "Lusophone" (Lusófono).
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.
The bank was formerly known as Finibanco (Macau) (Chinese :富利銀行有限公司). It was acquired by Winwise Holdings Limited, the subsidiary of Hongkong Chinese Limited, in 2002 and renamed The Macau Chinese Bank, Limited. [2] [3] [4] In 2007, Value Convergence Holdings, a subsidiary of Melco International Development, signed an agreement to acquire 60% stake of Macau Chinese Bank. [5] However, in 2008, Value Convergence Holdings declared to give up the acquisition because Monetary Authority of Macao did not agree it before the agreement expiry date. [6]
A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the parent company, parent, or holding company. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a government or state-owned enterprise. In some cases, particularly in the music and book publishing industries, subsidiaries are referred to as imprints.
Hongkong Chinese Limited is a Bermuda-incorporated Hong Kong listed company. It was the holding company of Hongkong Chinese Bank, which was sold in 2002. The listed company now engaged in real estate development in China and had properties in Singapore. Hongkong Chinese Limited is an indirect subsidiary of Lippo Capital, which was owned by Indonesian entrepreneur Mochtar Riady and his family members. The chairman of Hongkong Chinese Limited, Stephen Riady, is the son of Mochtar.
Melco International Development Limited, formerly The Macao Electric Lighting Company Limited, is one of the 100 oldest companies in Hong Kong. It was founded in 1910 and was among the first 100 companies established in Hong Kong. It was listed on the Hong Kong Stock Exchange in 1927. It engages in leisure, gambling and entertainment, technology, and property businesses in Hong Kong, Macau, Cyprus and the Philippines.
In 2015 the Chinese state-owned Nam Yue Group acquired a 56% stake in the bank from Hongkong Chinese Limited in two tranches. Two other natural persons also acquired 24% stake of the bank.
