The Bank of East Asia Ltd.
Company Background
Bank of East Asia, an independent Hong Kong-based bank, has more than 200 branches around the world, primarily in the Greater China region -- mainland China, Taiwan and Macau.
It was established in 1918. In 2007, The Bank of East Asia, the U.K.'s HSBC and Citibank of the U.S. were the first foreign lenders to get permission from the China Banking Regulatory Commission to establish Chinese subsidiaries.
The Bank of East Asia maintains a good relationship with the Chinese government as it was quicker than its competitors to offer yuan services.
The bank also has a strategic alliance with the online WeBank, which is affiliated with Tencent, one of China's big three Internet players.
In 2014, it increased its capital through a third-party allocation of shares to Sumitomo Mitsui Banking, making the Japanese bank its largest shareholder, ahead of Spain's CaixaBank and the Guoco Group of Malaysia.
Chairman and CEO David Li Kwok-po is a business tycoon who had served as a member of the Legislative Council of Hong Kong. His first and second sons serve as deputy chief executives at the bank. The Li family has produced political and business leaders.
Business Summary
Financial Highlights
Dec 2022 | HKD | USD |
Revenue | 29,714M | 3,794.65M |
Gross Profit | -- | -- |
Operating income | 3,152M | 402.52M |
Income before tax | 4,941M | 630.99M |
Net income | 3,651M | 466.25M |
EBITDA | -- | -- |
Diluted EPS | 1.32 | 0.16 |
Dividends Per Share | 0.33 | 0.04 |
Total Assets | 882,825M | 113,110.91M |
Total liabilities | 786,564M | 100,777.58M |
Total equity | 95,987M | 12,298.22M |
Operating cash flow | 19,027M | 2,429.86M |
Currency in HKD | Currency in USD |
Historical Data
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 30,838M | 34,698M | 27,345M | 23,856M | 29,714M |
Gross Profit | -- | -- | -- | -- | -- |
Operating income | 7,422M | 2,611M | 3,421M | 5,283M | 3,152M |
Income before tax | 8,060M | 3,198M | 3,606M | 6,136M | 4,941M |
Net income | 5,796M | 2,580M | 2,822M | 4,459M | 3,651M |
EBITDA | -- | -- | -- | -- | -- |
Diluted EPS | 2.06 | 0.89 | 0.96 | 1.52 | 1.32 |
Dividends Per Share | 0.83 | 0.46 | 0.40 | 0.70 | 0.33 |
Total Assets | 839,451M | 865,198M | 884,420M | 907,470M | 882,825M |
Total liabilities | 744,770M | 769,523M | 784,592M | 805,388M | 786,564M |
Total equity | 91,826M | 95,307M | 98,885M | 101,778M | 95,987M |
Operating cash flow | 19,258M | 15,347M | 14,508M | 2,318M | 19,027M |
Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
Revenue | 3,934.65M | 4,428.47M | 3,525.65M | 3,069.14M | 3,794.65M |
Gross Profit | -- | -- | -- | -- | -- |
Operating income | 946.98M | 333.23M | 441.07M | 679.67M | 402.52M |
Income before tax | 1,028.38M | 408.15M | 464.93M | 789.41M | 630.99M |
Net income | 739.51M | 329.28M | 363.84M | 573.66M | 466.25M |
EBITDA | -- | -- | -- | -- | -- |
Diluted EPS | 0.26 | 0.11 | 0.12 | 0.19 | 0.16 |
Dividends Per Share | 0.10 | 0.05 | 0.05 | 0.09 | 0.04 |
Total Assets | 107,218.48M | 111,039.55M | 114,062.05M | 116,397.52M | 113,110.91M |
Total liabilities | 95,125.39M | 98,760.62M | 101,187.41M | 103,303.87M | 100,777.58M |
Total equity | 11,728.43M | 12,231.70M | 12,753.01M | 13,054.65M | 12,298.22M |
Operating cash flow | 2,457.14M | 1,958.72M | 1,870.55M | 298.21M | 2,429.86M |
Valuation Measures
Dec 2022 | |
PER | 7.14 |
ROA | 0.40% |
ROE | 3.69% |
Operating margin | 10.60% |
Profit margin | 12.28% |
Key executives
- Co-Chief Executive Officer & Executive Director: Man-Kiu Li
- Co-Chief Executive Officer & Executive Director: Man Bun Li
- Chief Operating Officer & Deputy CEO: Hon-Shing Tong
- Chief Financial Officer: Dawn Tao
- Vice President: Hei Lok Shiao
Shareholders
- Sumitomo Mitsui Financial Group, Inc. (21.4%)
- Fundacion Bancaria Caixa d'Estalvis i Pensions de Barcelona (18.9%)
- Guoco Management Co. Ltd. (16.2%)
- LI KWOK PO DAVID (4.3%)
- LI KWOK CHEUNG (1.5%)
- WONG CHI YUN (0.9%)
- The Vanguard Group, Inc. (0.9%)
- LI KWOK SING (0.7%)
- Dimensional Fund Advisors LP (0.5%)
- BlackRock Fund Advisors (0.5%)
Contact Details
- Website:http://www.hkbea.com
- Phone: +852.3608.3608
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Competitors
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