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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

The Bank of East Asia Ltd. engages in the provision of banking and related financial services. It operates through the following segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Centralised Operations, Others, Mainland China Operations, Overseas Operations, and Corporate Management. The Personal Banking segment handles branch operations, personal internet banking, consumer finance, property loans, and credit card business. The Corporate Banking segment includes corporate lending and loan syndication, asset based lending, commercial lending, securities lending, and trade financing activities. The Treasury Markets segment is involved in the treasury operations and securities dealing. The Wealth Management segment offers private banking business, and investment products and advisory. The Centralised Operations segment focuses on supporting units of banking operations. The Others segment manages the insurance business, trust business, securities and futures broking, and corporate financial advisory in Hong Kong. The Mainland China Operations segment consists of the back office unit for China operations in Hong Kong, branches and subsidiaries in China, except those subsidiaries carrying out data processing and back office operations in Mainland China. The Overseas Operations segment includes back office unit for overseas banking operations in Hong Kong, Macau Branch, Taiwan Branch, and all branches, subsidiaries, and associates operating in overseas. The Corporate Management segment absorbs the regulatory capital cost of loan capital issued by the Bank and receives, from Hong Kong operations, the interest income on business activities funded by capital instruments issued by the Bank. The company was founded in 1918 and is headquartered in Hong Kong.

Financial Highlights

Dec 2022 HKDUSD
Gross Profit----
Operating income3,152M402.52M
Income before tax4,941M630.99M
Net income3,651M466.25M
Diluted EPS1.320.16
Dividends Per Share0.330.04
Total Assets882,825M113,110.91M
Total liabilities786,564M100,777.58M
Total equity95,987M12,298.22M
Operating cash flow19,027M2,429.86M
Currency in HKDCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 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 2018Dec 2019Dec 2020Dec 2021Dec 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
Operating margin10.60%
Profit margin12.28%

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


  • 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

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