Group History The origins of Omega Asia Bank Limited may be traced to 1946, the immediate post World War Two period in Hong Kong. In that year Mr. Wing Yip Sang, father of current Chairman Mr. Robert Wing, began trading as Wing Finance Company, and eventually became a licensed commercial bank in 1984. In 1973, Mr. Robert Wing began a finance business on his own account, and established Money Exchange and Investment Limited (MEI). MEI developed rapidly. It pioneered the concept of merchant banking in Hong Kong and was a pace-setter in international bullion dealing in Hong Kong. The company also became one of the major gold dealers in Asia. In 1979, MEI moved into the share-broking business with the establishment of Omega Securities Company. In the same year, the company expanded into financial research services, secretarial services, and nominee services. Omega Group (Holdings) Limited was created to oversee the different lines of businesses. In 1988, Mr. Wing Yip Sang wished to step down from full-time management of Wing Finance Company and Mr. Robert Wing became chief executive. His first move was to merge Omega Group (Holdings) Limited with Wing Finance Company. As a result of this merger, the Group has built a significant presence in a variety of finance operations in Hong Kong. This helped synergise the financial and human resources of the companies, propelling the Group further forward. By 1996 the firm had expanded its operations into Macau and Manila. In the same year, the Group moved into insurance through a strategic alliance with the Platinum Fire and Marine Reinsurance Company Limited. In line with its expansionary efforts, in 2001 the Group established a new corporate identity, Omega Asia Bank Limited, and the member companies were renamed to reflect this development. MEI became Omega Asia Credit Limited, and Wing Finance Company was renamed Omega Asia Finance Limited. In 2004, the Group acquired the business of Platinum Fire and Marine Reinsurance Company Limited and focused on developing a comprehensive range of financial services. The last three decades have seen the Group grow markedly in both Hong Kong and Macau, and to a lesser extent in Manila. The company has a strong commitment to Hong Kong and Macau. In recent years, it has been seeking vigorously to expand its presence in the region.
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Commercial banking has been the major focus of the Group. The Group has been a major player in facilitating trade in both Hong Kong and Macau. It has been one of the prime movers in providing trade financing to its customers who had an active interest in trading with China. In light of the new business environment under the new economy, the Group has undergone a re-orientation, with investment banking, commercial banking and insurance identified as the three major lines of businesses for the new millennium. Lines of Business Omega Asia has a number of lines of business, which are summarised below. See Appendix 1 for a further explanation of each of these lines. Commercial / Consumer Loans Mortgage loans Machinery and equipment financing Consumer goods instalment loans Accounts receivable financing Gold loans Various kinds of commercial lending Small and Medium Enterprise (SME) loans
Investment & Merchant Banking Services Stock broking,...