Company Profile For The Bank of East Asia, Limited

The Bank of East Asia, Limited (0023.HK) (Hong Kong Stock)

sector: Financials · industry: Financial Services - Diversified ·

As of 24 Nov 2009

32.80HKD

Price Change

-0.20

Percent Change

-0.61%

Analyst Recommendations

Overview

The Bank of East Asia Limited (BEA) is engaged in the provision of banking and related financial services, and business, corporate and investor services. BEA serves customers through a global network of over 240 outlets in the United States, Canada, the United Kingdom, the British Virgin Islands, and Southeast Asia. The Company operates more than 60 outlets in China. BEA delivers retail and commercial banking services through its Personal Banking, Corporate Banking, Wealth Management, Investment Banking, China, and International divisions. The products and services include deposit-taking, foreign currency savings, retail investment and wealth management services, mortgage loans, consumer loans, credit cards, Cyberbanking, bancassurance, Mandatory Provident Fund services, trade finance, syndication loans, remittances, and foreign exchange margin trading.

Quick Financial Synopsis

BRIEF: For the six months ended 30 June 2009, The Bank of East Asia Limited's total interest income decreased 28% to HK$6.33B. Net interest income after loan loss provision decreased 19% to HK$2.76B. Net income increased 49% to HK$1.17B. Net interest income reflects a decrease in interest income. Net income also benefited from an decrease in interest expenses and decreased impairment losses on held to maturity investment.