Bank Profile
Industrial and Commercial Bank of China (Macau) Limited
Corporate Profile
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 2022.
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.
History
SHB was incorporated in Macau in 1972, and had a history of 37 years of service to the local customers and facilitating growth in Macau. 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 the Macau market, 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 of China(Macau) Limited (“ICBC Macau”), and ICBC succeeded in brand unification and complementary advantages in Macau.
On 23 August 2010 and 22 September 2015, after ICBC( Macau) received capital increase from shareholders twice. its operating strength was significantly enhanced and its financial situation was more stable. With the continuous deepening of comprehensive risk management, network construction, business innovation, process optimization, and internal management have reached a new level, the workforce and corporate culture have made great progress. The market position and influence of the Bank have rapidly increased, its business scale and operating performance are both in a leading industry position in Macao.
At the end of 2022, ICBC Macau had 3 subsidiaries, 18 branches, 2 Service Centers,4 Wealth Management Centers, 1 Peony Credit Card VIP Service Center, 30 self-help banks and a network of 388 ATMs located across Macau.
Products and Services
ICBC Macau leverages its parent company’s signature strength, massive services network, cutting-edge technology, and excellent products of its foreign institutions to offer plenty of financial services to its clients:
Corporate loan, revolving loan, banking syndicated loan, project loan, construction loan, trade financing and letter of credit or letter of guarantee, operating loan, mortgage loan, car loan, education loan, entrusted loan and M&A financing;
Current deposit, savings deposit, time deposit, RMB deposit, redeemable time deposit, equity-linked notes, diversified services of Elite Club Account;
Securities trading, funds agency, insurance agency, bond investment, foreign exchange investment, precious metal trading，wages distribution agency，receiving and paying agency, international settlement, remittance, currencies conversion, e-banking and card business service;
Debt restructuring, financial consultancy, private banking service, assets management, investment portfolio management, pension fund management and its consultancy services.
Subsidiaries
ICBC Macau has 3 wholly-owned subsidiaries: ICBC (Macau) Capital Limited， ICBC (Macau) Pension Fund Management Company Limited and Seng Heng Development Company Limited.
ICBC (Macau) Capital Limited announced name change on 27 May 2009, which was formerly known as Seng Heng Capital Asia Limited established in May 1998 with a registered capital of MOP50 million. This subsidiary is committed to providing fund management services to institutions and individual clients in Macau.
ICBC (Macau) Pension Fund Management Company Limited was renamed on 4 February 2009, which was formerly known as Seng Heng Pension Fund Management Company Limited established in June 2003 with a shared capital of MOP60 million. This subsidiary is the first professional pension fund management company approved under the corresponding legislations. In line with the regulations on private pension fund enacted by the Macau government, the subsidiary provides a wide range of services.
Seng Heng Development Company Limited incorporated in Hong Kong on 10 January 1997, owns property and engages in the financial and investment market research.
ICBC (Macau) takes up economic and social responsibilities in a way of organic unity. It has established an image of a responsible leading bank in Macau through its support of economic and social developments, environmental and resources protection, and participation in social welfare activities.