Bank of East Asia
TOPIC
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Bank of East Asia

(东亚银行)

Bank of East Asia
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
The HKMA’s interest-rate cut has given Hong Kong business owners and mortgage holders a reprieve. Photo: Shutterstock
Hong Kong Monetary Authority (HKMA)

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

The latest rate cuts by lenders such as HSBC and Bank of China will lighten the monthly burden on mortgage borrowers by about HK$351 to HK$22,452.

Banking & finance

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

Banking & finance

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

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.

Stephen Leung, group chief information officer of Bank of East Asia, said the bank’s Beast platform will hold its inaugural fintech day in October. Photo: Enoch Yiu
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.

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.

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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

The HSBC Building in Central. HSBC set a record as net profit for 2023 surged 56 per cent from a year ago. Photo: Jelly Tse
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.

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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.

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.

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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.

Bank of East Asia executive chairman David Li dots the eye of a lion before the ceremonial lion dance at the inauguration of the BEA Tower in Qianhai, Shenzhen, on Friday. Photo: Enoch Yiu
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.

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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.

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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.

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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.

The house at No 15 Gough Hill Road, The Peak, owned by Chinese tycoon Chen Hongtian, has been seized by receivers appointed by Bank of East Asia. Photo: May Tse
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.

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.

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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.

The house at 15 Gough Hill Road on Thursday. The property was bought for a record HK$2.1 billion in 2016, and was mortgaged twice with BEA in the first half of 2019. Photo: May Tse
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.

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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.

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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.

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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.

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Illustration by Henry Wong
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.

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.

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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.

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.

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Photo of a closed Bank of China (Hong Kong) branch in the middle of a work week in Hong Kong’s Central district on 7 February 2022. Photo: Felix Wong
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.

Banking & finance

HKMA, banks to help train staff to reduce job losses due to digitalisation

About 9 per cent of bank workers in Hong Kong are likely to lose their jobs because of branch closures, but those with skills in wealth management, green finance and digital banking are likely to be in demand, HKMA deputy CEO Arthur Yuen says.

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