The Union Bank of Hong Kong (Former stock code: SEHK: 349)(Traditional Chinese: 香港友聯銀行) was a bank in Hong Kong.
It became the Industrial and Commercial Bank of China (Asia) (Traditional Chinese: 中國工商銀行 (亞洲)).
[1] In 1984, due to negative rumours, there was a bank run causing a great drop in cash flow from HK$2.1 billion to HK$710 million.
[citation needed] In 1986, the British Hong Kong Government decided to "administratively" take over the bank.
[2] Chinese state-owned China Merchants Group acquired the bank in the same year.