Bank Of East Asia
The Bank of East Asia Limited (Chinese: 東亞銀行有限公司) (SEHK: 0023, OTC Pink: BKEAY) often abbreviated to BEA, 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$50.85 billion (as at 30 June 2008). It is listed on the Hong Kong Stock Exchange as BEA. The Bank of East Asia has 91 retail branches in Hong Kong, as well as 60 in mainland China and around 30 in the United States, Canada and Britain. Worldwide, the bank employs more than 10,800 people.
In 1995, BEA acquired United Chinese Bank, which was fully merged with the bank in 2001. In 2000 it acquired First Pacific Bank.
Read more about Bank Of East Asia: Mainland Operations, Overseas Operations, Rumours of Capital Inadequacy
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