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Bank of East Asia

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

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.

  • HSBC, Standard Chartered, BOCHK, Bank of East Asia, Hang Seng Bank and ICBC Asia promise to approve mortgage loans within two weeks

BEA unit to hold fintech day in October to promote innovation

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

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.

People walk past a lion sculpture outside HSBC’s headquarters building in Central, Hong Kong. Photo: Eugene Lee

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

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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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.

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

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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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 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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Brian Li Man-bun (left) and Adrian Li Man-Kiu (right), co-chief executives of Bank of East Asia, during an interview on 12 December 2023. Photo: Sun Yeung.

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

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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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.

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.

Bank of East Asia plans to open a branch in Haikou, the capital of Hainan province. Photo: Handout

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.

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

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

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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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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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.

The Chinese and Hong Kong flags fly outside Exchange Square, the building housing the bourse, in Hong Kong, China, 05 July 2021. Photo; EPA-EFE

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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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

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.

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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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.

Lunar New Year decorations at Ocean Terminal at Harbour City in Tsim Sha Tsui on 26 January 2022. Photo: Nora Tam

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.

Banks in Hong Kong now offer more than just withdrawal and deposit services. Photo: Winson Wong

Bank of East Asia half-year profit up 75 per cent as economy rebounds

Bank of East Asia said it would pay an interim dividend of 35 HK cents a share as its first-half results benefited from an improving economic outlook.

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Wealth connect to generate US$700 million in fees a year for bay area banks

Wealth Management Connect is the banking sector’s ‘next big driving force’ for fee-based income, says Bank of China Hong Kong executive Arnold Chow.

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Bank of East Asia
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
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