BEA

Incorporated in Hong Kong in 1918, The Bank of East Asia (“BEA”) is dedicated to providing comprehensive retail and commercial banking services to its customers in Hong Kong, Mainland China, and other major markets around the world.

BEA is the largest independent local bank in Hong Kong, with total consolidated assets of HK$754 billion (US$97.2 billion) as of 31th December, 2013. The Bank is listed on The Stock Exchange of Hong Kong and is one of the constituent stocks of the Hang Seng Index.

In Mainland China, BEA’s operational presence dates back to the opening of the Bank’s Shanghai Branch in 1920. Today, BEA Group operates one of the largest networks of any foreign bank, with nearly 126 outlets in major urban centersnationwide. In addition to the BEA China network, BEA maintains a representative office in Fuzhou and a rural bank in Fuping County, Weinan City in Shaanxi Province.

Over the years, BEA has built its reputation as a pioneer in the provision of innovative, value-added banking services to customers on the mainland. Among its recent achievements, the Bank is recognized as:
-one of the first foreign banks to receive approval from the China Banking Regulatory Commission to establish a locally-incorporated bank in Mainland China (2007). This wholly-owned subsidiary, namely The Bank of East Asia (China) Limited, offers a full range of banking and financial services to a broad customer base that includes local residents and businesses;
-the first foreign bank to launch Renminbi debit cards and credit cards in Mainland China (2008);
-the first foreign bank to issue Renminbi retail bonds in Hong Kong (2009).

Overseas, BEA has established a presence in Southeast Asia, the United Kingdom and the United States. Worldwide, including Hong Kong and the rest of Greater China, BEA operates more than 240 outlets and employs over 12,000 people.

Products and Services
BEA has long been known for the comprehensive range of retail and commercial and retail banking, financial, and insurance services that it provides to a diverse customer base. Wholesale and retail banking services are delivered through the Bank’s Corporate Banking, Personal Banking, Wealth Management, Insurance & Retirement Benefits, Treasury Markets, China, and International divisions.

Products and services include syndicated loans, trade finance, deposit-taking, foreign currency savings, remittances, mortgage loans, consumer loans, credit cards, Cyberbanking, retail investment and wealth management services, foreign exchange margin trading, Mandatory Provident Fund services, and general and life insurance.

In addition to the Bank’s core offering, other members of the BEA Group broaden the range of products and services available to individual and corporate customers. BEA’s wholly-owned subsidiaries BEA Life Limited and Blue Cross (Asia-Pacific) Insurance Limited serve as underwriters of life insurance and general insurance products, respectively while global professional services provider, Tricor Group, offers integrated Business, Corporate and Investor Services.

BEA keeps abreast of the latest market trends and strive to leverage developments in the marketplace to offer new or enhanced products and services that suit customers’ needs. For more details on BEA’s products and services, please browse our other pages of this website.

BEA CN

BEA has operated continuously in China since the establishment of its first mainland branch in Shanghai in 1920. The Bank’s China operations have steadily grown over the past 30 years of economic reform and today, BEA operates one of the most extensive branch networks of any foreign bank on the mainland. Leveraging its deep knowledge of the China market as well as its banking expertise in Hong Kong and overseas, BEA delivers quality products and services that are specially tailored to meet the needs of customers throughout Greater China.

BEA established its wholly-owned, locally-incorporated banking subsidiary, The Bank of East Asia (China) Limited (“BEA China”), in early 2007. As BEA’s primary operation on the mainland, BEA China offers a wide range of banking and financial services to a broad customer base that includes local residents.

Its network of 126 outlets includes Shanghai HQ, 27branches and 98 sub-branches in 40 cities on the Mainland.

Pioneering Spirit in China

1979 Set up the first-ever Sino-foreign joint venture in China
─ Beijing Air Catering Limited (Business Licence Number)

1979 Pioneered the first foreign currency credit card settlement services in China through an agreement with the Bank of China

1986 Co-founded China’s first Sino-foreign joint-venture finance company
─ China International Finance Company Limited (Shenzhen), offering wholesale banking services

1988 Pioneered the property mortgage business in China

1991 Co-founded the first Sino-foreign joint-venture finance company established outside a special economic zone in China
─ Shanghai International Finance Company Limited, rendering a full range of wholesale banking services

1995 Received “The Best Foreign Bank in China” Award from Euromoney magazine

1998 One of the first foreign banks granted RMB licenses on a provincial level

2002 One of the first foreign banks allowed to provide foreign currency banking services to both local individuals and local companies

2002 The first foreign bank licensed to offer online banking services in China

2005 One of only a few foreign banks to receive approval to market both life and general insurance products in China

2006 One of the first foreign banks in China to be granted Qualified Domestic Institutional Investor (“QDII”) status by the China Banking Regulatory Commission and the first foreign bank in China to obtain a foreign exchange quota to conduct QDII business

2006 One of the first foreign banks to receive approval to proceed with the establishment of a locally-incorporated subsidiary bank in China

2007 One of the first foreign banks to obtain approval to establish a locally-incorporated subsidiary bank in China, known as the Bank of East Asia (China) Limited (“BEA China”)

2008 BEA China was the first foreign bank to launch Renminbi credit cards in China

2009 BEA China was the first foreign bank to issue Renminbi retail bonds in Hong Kong

2010 BEA China completes its first cross-border RMB transaction for foreign direct investment

2011 BEA China Issues its First Batch of Renminbi Financial Bonds in China’s Interbank Bond Market

2013BEA China is the first foreign bank which allow to open up in Shanghai Free Trade Zone.