BEA gets OK to inject 2b yuan into mainland subsidiary

By Hu Xiaocen | February 20, 2014, Thursday |

Online Edition

THE Bank of East Asia, the third-biggest bank in Hong Kong, said it has received regulatory approval for a capital injection for its subsidiary on China’s mainland, the lender said in a statement yesterday.

BEA China will get 2 billion yuan (US$328 million) from the group for future business expansion following approval by the China Banking Regulatory Commission, the statement said.

It will raise BEA China’s registered capital from 8 billion yuan to 10 billion yuan.

BEA China said the move indicates the banking group will continue to raise investment and support in the mainland market.

BEA said earlier that its net interest margin jumped 23 basis points to 1.9 percent by the end of last year, which is mainly because of the increase in the interbank rate on the mainland.

Business Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

BEA gets OK to inject 2b yuan into mainland subsidiary

Email this to your friend