Ming Tak Bank

Ming Tak Bank (Chinese: 明德銀號) was a bank in Hong Kong.

The bank was owned and managed by Poon Kai-kwong who was also involved in construction and property businesses. And Poon was very active in investing in the property boom in the early 1960s in Hong Kong.[1] In January 1965, the bank was taken over by the British Hong Kong Government but it later bankrupted because of its heavy losses in property investment.[2][3] This led to a series of bank runs in other small and medium banks and finally a stock market crash.[4]

References

  1. ↑ The Origins of Anti-Competitive Bank Regulation in Hong Kong: Was Hong Kong 'over-banked' in the 1960s?
  2. ↑ Panic of 1965
  3. ↑ BANK REGULATION IN HONG KONG
  4. ↑ Asia Money Markets
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