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Name |
First Local Bank Engaged in International Banking |
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Category |
Business World - Finance |
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Data Info |
in 1917, Lim Peng Siang founded the Ho Hong Bank Limited with branches opened simultaneously in Singapore, and Muar and Malacca. Branches then opened in Ipoh, Kuala Lumpur and Penang.
The Ho Hong Bank was the first Chinese bank to engage in international banking. Consequential to the great depression, in 1932 it merged with the Oversea-Chinese Bank (OCB) and the Chinese Commercial Bank(CCB) to form the Oversea-Chinese Banking Corporation (OCBC). |
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