New stamp issue – Macau: 70th Anniversary of Tai Fung Bank

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New stamp issue – Macau: 70th Anniversary of Tai Fung Bank

http://www.romaniastamps.com/

Tai Fung Bank Limited, formerly Tai Fung Money Changer, was founded in 1942 by Mr. Ho Yin and several business magnates from Macau and Hong Kong.
In 1969, Tai Fung Money Changer was registered as “Tai Fung Money Changer Limited”.
Tai Fung Money Changer Limited was the first financial institution that applied to incorporated as a bank under the Macau’s Decree-Law of Banking in 1971. On 20 January,1972, it was officially approved and became the first local bank in Macau to operate under the name “Tai Fung Bank Limited” with a registered capital of MOP 5 million.
In order to strengthen its capacity, in September 1984, Bank of China, Beijing was invited to participate as the Bank’s shareholders, holding 50% of the then expanded capital of MOP 160 million.
Since 1991, the Bank has increased its capital several times and currently its paid up capital is MOP 1 billion, the largest among locally registered banks. The total assets of the Bank are MOP 43 billion as at the end of 2010.

the attachments to this post: 

 
Tai_Fung_Bank_ms

 
Tai_Fung_Bank_set

Tags: New stamp issue