Seng Heng Bank was established in 1972 as a licensed bank in Macau.  In 1989, Seng Heng Bank was acquired by Sociedade de Turismo e Diversões de Macau, S.A. ("STDM"), a well-known conglomerate in Macau.  Since then, the Bank has steadily developed to become a major financial institution in Macau. In 1997, the Bank relocated to 50,000 square feet premises in the Seng Heng Bank Tower at the prestigious Macau Landmark Complex, where the existing corporate headquarter now situates. In 2005, Mr. Patrick Huen, the ex-CEO and Executive Director of the Bank, acquired 30% share capital in the Bank from STDM. In August 2007, Industrial and Commercial Bank of China Limited ("ICBC") entered into an agreement with both STDM and Mr. Patrick Huen in relation to sale and purchase of 79.9333% share capital in the Bank.  The purchase was successfully completed in January 2008.  The Bank has since become a proud member of ICBC Group. Seng Heng Bank now ranks among the top three local banks in Macau with a total asset exceeding MOP 29.4 billion and a staff of 344 offering a full range of quality financial services and products to customers.