Annual Report 2024

HKEXApr 11 16:41 · Announcements

BANK OF E ASIA (00023.HK) issued 6.3551 million new shares according to the scrip dividend plan.

Gelonghui reported on April 10 that BANK OF E ASIA (00023.HK) announced the issuance of 6.3551 million new shares on April 10, 2025, as part of the second interim dividend plan for 2024.

Gelonghui FinanceApr 10 17:00

Goldman Sachs expects the Federal Reserve to cut interest rates by a total of 0.2% this year, estimating a half-point cut in June, July, and September.

Goldman Sachs published a report on the USA economy stating that, following the USA's announcement of a series of tariff implementations, the firm has adjusted its USA economic forecast to indicate a recession, and the relevant tariffs, as well as further retaliatory tariffs between the USA and China, have already taken effect. The firm now predicts that the GDP growth rate for the USA in the fourth quarter of this year will be -1%, with the unemployment rate expected to rise by 1.5 percentage points to 5.7%. This will be less severe than most past recessions in the USA, partly because the firm has not observed any significant financial imbalances that need to be resolved, the balance sheets of private companies remain strong, and there is room for trade agreements to eventually lower tariff rates. The firm expects the core of the USA this year.

AASTOCKSApr 10 12:37

Bank of East Asia Delays AGM Circular Dispatch

TipRanksMar 28 16:38

The Deputy Chief Executive of BANK OF E ASIA (00023.HK), Bi Mingqiang, has been appointed as the Executive Director and President of BANK OF E ASIA China.

BANK OF E ASIA (00023.HK) announced that Vice President Bi Mingqiang has been appointed as the Executive Director and President of its wholly-owned subsidiary BANK OF E ASIA China, effective April 1, succeeding He Shunhua, who is retiring. This appointment has been approved by the National Financial Regulatory Administration. Bi Mingqiang stated that BANK OF E ASIA China will further leverage its advantages and closely collaborate with other Business departments of BANK OF E ASIA to provide seamless cross-border services for clients, including retail, corporate, and Other sectors, to seize new opportunities in the future.

AASTOCKSMar 28 16:29

Fitch predicts that Hong Kong banks' exposure to Real Estate will continue to be under pressure, but the likelihood of a downgrade in ratings is limited.

Fitch Ratings stated that despite ongoing pressures in the local Commercial Property lending (CRE) market, the viability ratings (VRs) of Hong Kong Banks are expected to remain resilient this year. Fitch predicts that the real estate market in Hong Kong, particularly office and retail properties, will continue to face pressure this year. Unless overall commercial momentum recovers, the vacancy rate is unlikely to decline, and the impaired loan ratios related to local banks may deteriorate more than previously expected by the agency. Its stress scenario shows that due to the inherent Crediting conditions of Hong Kong Banks being supported by solid capital buffers, which help absorb potential Crediting losses, the likelihood of a downgrade in local bank ratings remains relatively low.

AASTOCKSMar 28 09:35