Seng Heng Bank: History and Acquisition by Industrial and Commercial Bank of China
A book titled ‘Seng Heng Bank: History and Acquisition by Industrial and Commercial Bank of China’, co-authored by Patrick Huen Wing Ming, vice-chairman and executive director of the Industrial and Commercial Bank of China (Macau); Jean Chen, dean of the Faculty of Business Administration (FBA), University of Macau (UM); and Liu Minghua, an associate professor in the FBA, has been published. The book contains an account of the success story of Seng Heng Bank, the reasons for the Industrial and Commercial Bank of China’s (ICBC) successful acquisition of Seng Heng Bank, and management insights and performance analysis of the bank after its renaming into ICBC (Macau).
In the book, the three authors outline how Seng Heng Bank grew from a small, loss-making bank to one of the best banks in Macao, with highlights of its achievements, awards, and recognition. The book also details the acquisition of Seng Heng Bank by ICBC, the world's largest bank in terms of total assets, and analyses the key factors behind its success, providing regional bank managers with evidence-based case studies. It is the first and only case study on banking in Macao to date, providing valuable case and practice analysis for finance professionals, academics, students, and policy makers
Huen is the current vice-chairman and executive director of ICBC (Macau), who served as the chief executive officer of Seng Heng Bank before the acquisition. He is also the second vice chair of the UM University Council and chair of the administrative committee of Dr Stanley Ho Medical Development Foundation. Chen is the current dean of the FBA at UM and a chair professor in accounting and finance. Liu is an associate professor in UM’s Department of Finance. Before joining UM, he served as an assistant vice president at DBS Bank in Singapore.