East Asia Bank
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| Public | |
| Traded as | : 0023 |
| Industry | Finance |
| Founded | 1918 |
| Headquarters | Hong Kong |
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Key people
|
David Li (Chairman and CEO) |
| Products |
Financial Services Consumer Banking Corporate Banking |
| Revenue | HK $ 8.814 billion |
| HK $ 4.144 billion | |
| Total assets |
 US$ 98.7 billion (2016) |
| Website | hkbea.com |
| Bank of East Asia Ltd. | |||||||||
| Traditional Chinese | 東亞銀行有限公司 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
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| BEA | |||||||||
| Traditional Chinese | 東亞銀行 | ||||||||
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| Transcriptions | |
|---|---|
| Yue: Cantonese | |
| Yale Romanization | Dūng a ngàhn hòhng yáuh haahn gūng sī |
| Jyutping | Dung1 aa3 ngan4 hong4 jau5 haan6 gung1 si1 |
| Transcriptions | |
|---|---|
| Yue: Cantonese | |
| Yale Romanization | Dūng a ngàhn hòhng |
| Jyutping | Dung1 aa3 ngan4 hong4 |
The Bank of East Asia Limited (Chinese: 東亞銀行有限公司) often abbreviated to BEA (Chinese: 東亞銀行), is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li. Its head office is in Central.
It was founded in Hong Kong in 1918 by the grandfather, Li Koon-chun (李冠春), and great uncle of the present chairman, David Li. Today the company has a market capitalisation of HK$68.4 billion (US$8.5 billion), as at 27 February 2011, with consolidated assets of US$98.7 billion (as at 31 décembre 2016). It is listed on the with a stock code of 23. The Bank of East Asia has 168 retail branches in Hong Kong, as well as 60 in mainland China and around 30 in the United States, Canada (30% stake with Industrial and Commercial Bank of China]]) and Britain. Worldwide, the bank employs more than 13,000 people.
In 1995, BEA acquired United Chinese Bank, which was fully merged with the bank in 2001. In 2000 it acquired First Pacific Bank.
The bank's headquarters are located within the 29-storey Bank of East Asia Building (東亞銀行大廈), at No. 10 Des Voeux Road Central, in Central, Hong Kong. The building stands between New Henry House and The Landmark. Completed in 1982, it is the third generation Bank of East Asia Building at this location. A first generation building was demolished in 1933, while a second generation building stood there from 1935 to 1980.
On 20 May 2008, Bank of East Asia became the first foreign bank to issue yuan-denominated debit cards in mainland China, taking advantage of the recent removal of a key restriction on foreign banks' retail business in the country. The bank will issue the debit cards jointly with China UnionPay, the country's only bankcard network operator. The company claimed that the launch of debit cards would help attract retail banking customers by giving them greater convenience in accessing their deposits. In addition, it is the only foreign bank in mainland China to offer direct Alipay payment support and the only foreign bank in mainland China to independently issue credit cards (RMB-denominated UnionPay credit cards in 2008, and more recently Visa-branded US dollar-denominated cards in April 2011).
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Wikipedia