Ming Tak Bank
(Redirected from Mingde Bank)
Ming Tak Bank (Chinese: 明德銀號) was a bank in Hong Kong.
The bank was owned and managed by Poon Kai-kwong who was also involved in construction and property businesses. And Poon was very active in investing in the property boom in the early 1960s in Hong Kong.[1] In January 1965, the bank was taken over by the British Hong Kong Government but it later went bankrupt as a result of heavy losses from its property investment.[2][3] This led to a series of bank runs in other small and medium-sized banks, and eventually a stock market crash.[4]