TOPIC

/ company

Bank of East Asia

(东亚银行)

Bank of East Asia

东亚银行

Founded in 1918, Bank of East Asia is the largest independent local bank and third largest bank in Hong Kong. It was co-founded in 1918 by Li Koon-chun, grandfather of David Li Kwok-po, who has been its chief executive since 1981.

Chairman / President

David LI Kwok-po

CEO / Managing Director

LI Man-kiu、LI Man-bun

CFO / Finance Director

LI Man-kiu、LI Man-bun

Industry

Finance

Website

hkbea.com

Headquarters address

Hong Kong

Stock Code

SEHK: 0023
OTC Pink: BKEAY

Year founded

1918

last updated:

27 August, 2024

Banking & finance

Hong Kong digital banks consider branches after HKMA rule change

WeLab Bank, ZA Bank and Mox Bank believe face-to-face interactions would be a good addition, while Livi Bank does not see a need.

13 Jan 2025 - 7:30AM

Hong Kong Monetary Authority (HKMA)

Hong Kong banks cut lending rates, but HKMA warns of volatility ahead

19 Dec 2024 - 4:50PM

Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

8 Nov 2024 - 11:06AM

Banking & finance

Hong Kong banks pledge to ease loans in HKMA’s plan to help SMEs

Hong Kong’s business owners are cash-starved, as interest rates hover at the highest level in almost two decades.

23 Aug 2024 - 6:46PM

People crossing the street in Hong Kong’s Central district on 7 October 2021. Photo: Sam Tsang.

Banking & finance

BEA unit to hold fintech day in October to promote innovation

The inaugural Beast event will be held during Fintech Week in late October, which will allow start-ups and bankers to exchange ideas to build a tech ecosystem in the city, according to a senior BEA executive.

18 Aug 2024 - 12:30PM

Shenzhen

Hong Kong, Shenzhen begin cross-border credit checks in pilot trial

A new data-verification platform will test Beijing’s plan to keep watch on cross-border data flows without disrupting normal business operations.

6 May 2024 - 9:00PM

Banking & finance

Major Hong Kong lenders leave interest rates unchanged

HSBC, Standard Chartered and BOCHK – the city’s three note-issuing banks – will keep their lending and deposit rates unchanged, meaning borrowers will have to keep waiting for interest relief.

21 Mar 2024 - 5:10PM

Hong Kong

Editorial | HSBC commitment to Asia welcome as it profits from region

With the Fed expected to start cutting rates before the end of the year, margins for lenders will narrow, potentially exposing threats in other areas. Hong Kong’s banks have made provisions and shored up balance sheets to ward off China property risk

24 Feb 2024 - 6:15AM

Banking & finance

BEA cut its exposure to China’s crisis-hit property sector last year

Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its overall exposure to troubled Chinese property developers shrank.

21 Feb 2024 - 5:15PMvideocam

Greater Bay Area

GBA at 5: HSBC, BEA among Hong Kong lenders eyeing Qianhai opportunities

Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.

19 Feb 2024 - 9:18AM

Qianhai is already home to about 10,000 Hong Kong companies, and more than 75,000 Hong Kong residents live and work there. Photo: Shutterstock Images

Banking & finance

Hong Kong banks line up fireworks dinners, lucky draws to entice new clients

Hong Kong banks have launched marketing campaigns to kick off the Year of the Dragon. The giveaways include fireworks dinners, lucky draws and air tickets to lock in new clients and entertain wealthy customers.

4 Feb 2024 - 3:59PMvideocam

Hong Kong banks are enticing customers with a range of offers to welcome the Year of the Dragon starting on February 10. Photo: Eugene Lee

Banking & finance

BEA targets wealth management, fintech in bay area from new Qianhai office

The 18-storey BEA Tower, built at a cost of US$196 million, houses the bank’s Qianhai branch, innovation centre and data lab. The 105-year-old lender is targeting wealth management and fintech in the bay area.

12 Jan 2024 - 8:00PM

Greater Bay Area

Bank of East Asia refreshes its logo and slogan to tap growing wealth

Like its competitors, Bank of East Asia is betting on Hong Kong’s expanded role in the Greater Bay Area to tap the growing affluence and China’s potential for wealth management.

15 Dec 2023 - 8:00AM

Banking & finance

Rise in bad loans to China’s property sector dampen top banks’ earnings

China’s worsening property crisis saw bad loans rise at Bank of East Asia and China Construction Bank, which tarnished otherwise decent first-half earnings.

25 Aug 2023 - 8:00AMvideocam

Bank of East Asia said the group faced multiple headwinds and challenges in its business environment in the first half. Photo: Bloomberg

Banking & finance

Higher rates to drive profits as Hong Kong banks prepare to report results

Higher interest rates are expected to help drive profit gains at big Hong Kong lenders, including HSBC and Standard Chartered, in second quarter as US Federal Reserve prepares to hikes rates further.

25 Jul 2023 - 6:08PMvideocam

Pedestrians walk in front of a HSBC advertisement in Kwun Tong on July 8. Photo: Xiaomei Chen

Hong Kong property

Chinese tycoon seeks to resolve mortgage defaults, recover assets worth US$1.27b

Chinese tycoon Chen Hongtian is in discussions with lenders to retrieve assets worth HK$10 billion (US$1.27 billion) after a ‘short-term liquidity issue’ forced him to miss mortgage payments.

5 May 2023 - 6:04PM

Banking & finance

Exclusive | BEA aims to open branch in China’s Hainan free-trade hub

Bank of East Asia plans to set up its first branch in Hainan province, as officials in China’s largest free-trade hub court foreign investment in the financial sector.

17 Apr 2023 - 5:40PM

Hong Kong property

Tycoon blames Hong Kong property seizures on ‘short-term cash-flow disruption’

Chen Hongtian’s company, Cheung Kei Group, cites defaults on ‘several big-ticket accounts receivable’ and ‘abnormal obstacles’ for loss of control over assets including house on The Peak.

31 Mar 2023 - 8:15PM

No. 15 Gough Hill Road, the house bought by mainland tycoon Chen Hongtian for a record HK$2.1 billion in 2016, pictured on March 30, 2023. Photo: May Tse

Hong Kong property

Chinese tycoon Chen Hongtian has Hong Kong property seized by lenders

Chen was the talk of the town in Hong Kong for purchasing the house on The Peak for a record price of HK$2.1 billion in 2016.

30 Mar 2023 - 9:48PM

Banking for a digital economy

The Bank of East Asia and Mastercard capitalise on partnership for digital economy

BEA and Mastercard are collaborating on new products that simplify the digital banking experience for clients, and boosting their commitment to sustainability through the Priceless Planet Coalition.

Paid Post:

Mastercard

Banking & finance

Hong Kong launches data platform to help small businesses get bank loans

The de facto central bank’s new platform is designed to help small and medium-sized enterprises get cheaper loans by sharing their operational data with banks.

25 Oct 2022 - 10:08AMvideocam

The Commercial Data Interchange is one of the key initiatives under the de facto central bank’s Fintech 2025 strategy. Photo: Shutterstock

Banking & finance

Standard Chartered, HSBC may report weaker results amid China slowdown

The banking giants could face weaker results as market uncertainty hit global deal making and China’s economic slowdown could prompt additional provisions for their onshore commercial property portfolios, according to analysts.

1 Aug 2022 - 7:41PMvideocam

HSBC headquarters and Standard Chartered bank building in Central. Photo: Nora Tam

Banking & finance

Ping An’s push to split HSBC fails to resonate with bank’s investors

Ping An’s push to break up HSBC has failed to spur gains in bank’s Hong Kong share price, which is lagging the benchmark Hang Seng Index.

9 Jul 2022 - 10:00AMvideocam

SFC

SFC asks firms to ensure business continuity as mass testing looms

SFC has reminded member firms to review and update business continuity plans amid potential for disruption.

8 Mar 2022 - 12:20PM

Banking & finance

Four Hong Kong banks set aside US$1.02 billion for China property risks

The provisions at HSBC, Hang Seng Bank, Standard Chartered and Bank of East Asia, revealed during results announcements over the past two weeks, hint at the impact the developers’ credit crunch has had on lenders.

28 Feb 2022 - 8:40AMvideocam

The HSBC headquarters in Hong Kong. The bank took a US$500 million charge for potential soured loans in its Chinese commercial real estate portfolio for the fourth quarter of 2021. Photo: Sam Tsang

Banking & finance

12 banks in Hong Kong including HSBC to halt services on Saturdays

Twelve Hong Kong banks, including note-issuing lenders HSBC, Standard Chartered and Bank of China (Hong Kong), will suspend all banking services on Saturdays starting this week and the next until further notice.

28 Feb 2022 - 9:35AM

HSBC had as of Friday closed 51 branches, or half of its network. It will close all outlets every Saturday starting March 5. Photo: Felix Wong

Banking & finance

Brokers, banks shut outlets as Hong Kong hunkers down for Covid-19

Banks, insurance firms, wealth management firms and stockbrokers have been spared from the city’s draconian social-distancing and shutdown rules, but financial firms said they are not taking any chances.

11 Feb 2022 - 11:20AM

Lunar New Year

Hong Kong’s banks give staff electronic lai see for Year of the Tiger

The lai see – cash wrapped in vibrantly coloured packets, typically red – is a tradition that harks back millennia, usually given by elders to young or unmarried visitors.

27 Jan 2022 - 8:01PM

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