BANK OF EAST ASIA TO OPEN SUB-BRANCHES IN ZHONGSHAN AND FOSHAN
BKEAY | Quote | Chart | News | PowerRating -- The Bank of East Asia (BEA)
China (SEHK:0023) announced last Friday that it had received
approval to set up two sub-branches in Zhongshan and Foshan,
cities in south China's Guangdong province.
BEA's Zhongshan and Foshan sub-branches are expected to
start operation early next year, and will provide all round
banking and financial services for clients in the Pearl River
delta area.
According to the 6th supplementary protocol of the Closer
Economic Partnership Agreement, Hong Kong banks can apply to
establish cross-region sub-branches in any city of the province
once they have set up branches in Guangdong province.
Therefore, the measure will help lower capital requirements
for Hong Kong banks in setting up of sub-branches in
Guangdong.
BEA China possesses the largest banking network in Guangdong
province among all foreign banks, with three branches in
Shenzhen, Guangzhou, and Zhuhai, and 18 sub-branches.
(XIC)maz
For full details on (BKEAY) BKEAY. (BKEAY) has Short Term PowerRatings at TradingMarkets. Details on (BKEAY) Short Term PowerRatings is available at This Link.
- Bank of East Asia acquires 75% stake in ICEA Finance Holdings from ICBC - 01/29/10
- ICBC Completes Acquisition of 70% of BEA Canada - 01/29/10
- Industrial and Commercial Bank of China (ICBC) acquires 70% stake in Bank of East Asia (Canada) - 01/28/10
- Bank of East Asia acquires 75% stake in ICEA Finance Holdings from ICBC - 01/28/10
- ICBC acquires 70 pct stake of Bank of East Asia (Canada) - 01/28/10
- More News >>
