Singaporean banking corporation OCBC Bank has terminated the historical mission of Wing Hang Bank, eliminating the reference from its operations in Macau and Hong Kong.
The rebranding took place yesterday. From now on, OCBC Wing Hang Bank Macau will be officially referred to as OCBC Bank Macau, the corporation said in a statement. The same happened to its Hong Kong operations as well.
The acquisition of the then Wing Hang Bank occurred in July 2014 for the price of HKD38.7 billion. All Macau and Hong Kong operations were rebranded as OCBC Wing Hang in October the same year.
The purchase was the largest cross-border bank deal in Asia, excluding Japan, in the preceding decade.
In an earlier letter sent to its customers and clients, the bank assured them that no update whatsoever to their statuses was required to continue using the bank’s services.
Founded in Guangzhou in 1937 and originally called Wing Lung Money House, Wing Hang entered Hong Kong in 1945 as a money house, before being granted a bank license as Wing Hang Bank in 1960.
The change of branding has prompted the Transport Bureau (DSAT) to rename a bus stop right in front of the bank’s headquarters on Avenida de Almeida Ribeiro from Wing Hang to OCBC.
