Bank of East Asia to review its portfolio

Profits were nearly halved in Q4 2019 due to impairment losses from mainland China.

The Bank of East Asia (BEA) will be doing a comprehensive review of its portfolio of businesses and assets, the bank announced.

This will be done “to ensure alignment with its strategic priorities and in order to increase shareholder value,” the bank stated in a press release.

During the review, the bank plans to identify potential transactions which would enhance the value of its existing businesses and assets, as well as alternatives for potentially non-core assets.

BEA’s profits plunged 49% YoY to $411m (HK$3.2b) in Q4 2019 due to an increase in impairment losses from Mainland China.

Goldman Sachs has been appointed as the adviser for BEA’s review.

In view of the review, Elliot Management Corporation will apply to pause the unfair prejudice proceedings which it previously commenced against the BEA and certain former and serving directors of the bank.

BEA said that it will announce updates about its review by 30 June 2020.

Follow the link for more news on

Bank of East Asia

Also Read

VPBank’s asset quality at risk amidst housing slowdown

Thailand’s Kiatnakin Phatra Bank’s loan portfolio to benefit from rising car prices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit