Chiyu Banking Corporation - Definition

Chiyu Banking Corporation Limited is a bank incorporated in Hong Kong.

Founded by Chen Jiageng, an overseas Chinese in 1947, it has 23 branches in Hong Kong and focuses on serving the community of residents of Fujian descent in Hong Kong.

Chiyu was explicitly created by Chen to create a sustainable business with profits to be devoted to education in Xiamen and the rest of Fujian province in China. Since its founding, it has spent more than HK$1 billion in education in the province, primarily through funding Jimei University and its related schools.

BOCHK gradually accumulated a 70% stake in Chiyu in the 1970s; the rest of the bank is held by the Jimei University foundation and minority shareholders.

Chiyu is now operated as a subsidiary of BOCHK with the same IT platform and back office support teams.