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bank of east asia ltd (23) Details

The Bank of East Asia, Limited provides various banking and related financial services. It operates through nine segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Financial Institutions, Others, China Operations, Overseas Operations, and Corporate Services. The company offers various commercial and personal banking, financial, and insurance services. Its products and services include syndicated loans, trade finance, deposit-taking, foreign currency savings, remittances, mortgage loans, consumer loans, credit cards, Cyberbanking, retail investment services, mandatory provident fund services, and general and life insurance. The company also provides corporate lending and loan syndication, asset based lending, commercial lending, and securities lending; wealth management services, including private banking, trust, and portfolio management services, as well as investment solutions; and treasury services and securities dealing services. In addition, it offers trustee, asset management, corporate secretarial and advisory, property investment, business consultancy, money lending, facility management, Internet banking, and securities broking services, as well as business, corporate, and investor services. The company operates approximately 240 outlets in Hong Kong and the rest of Greater China, Southeast Asia, the United Kingdom, and the United States. The Bank of East Asia, Limited was incorporated in 1918 and is headquartered in Central, Hong Kong.

10,389 Employees
Last Reported Date: 02/17/17
Founded in 1918

bank of east asia ltd (23) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $18.7M
Deputy Chief Executive and Executive Director
Total Annual Compensation: $5.6M
Deputy Chief Executive and Executive Director
Total Annual Compensation: $5.6M
Compensation as of Fiscal Year 2015.
bank of east asia ltd
The Bank of East Asia, Limited Announces Board Changes

The Bank of East Asia, Limited announced that William DOO Wai-hoi has tendered his resignation as an Independent Non-executive Director of the Bank with effect from 18 February, 2017. Accordingly, he will also cease as a Member of the Audit Committee on the same date. Furthermore, Richard LI Tzar-kai and KUOK Khoon-ean have informed the Bank that they will not seek re-election at the Bank's Annual General Meeting to be held on 5 May, 2017 and therefore will retire from the Board of the Bank at the conclusion of the 2017 AGM.

The Bank of East Asia, Limited Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2016

The Bank of East Asia, Limited announced audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported interest income of HKD 20,363 million compared to HKD 23,581 million a year ago. Net interest income was HKD 11,098 million compared to HKD 11,929 million a year ago. Operating income was HKD 14,850 million compared to HKD 15,867 million a year ago. Operating profit before impairment losses was HKD 6,508 million compared to HKD 6,963 million a year ago. Profit for the year before taxation was HKD 4,592 million compared to HKD 6,385 million a year ago. Profit for the year from continuing operations was HKD 3,525 million compared to HKD 5,336 million a year ago. Profit for the year was HKD 3,829 million or HKD 1.21 per basic and diluted share compared to HKD 5,638 million or HKD 1.95 per basic and diluted share a year ago. Profit attributable to owners of the parent from continuing operations was HKD 3,505 million or HKD 1.12 per basic and diluted share compared to HKD 5,305 million or HKD 1.86 per basic and diluted share a year ago. Net cash used in operating activities was HKD 18,743 million compared to net cash generated from operating activities of HKD 51,357,000 a year ago. Purchase of fixed assets was HKD 448 million compared to HKD 446 million a year ago. Return on average assets and return on average equity fell from 0.6% to 0.4%, and from 6.6% to 4.1%, respectively.

The Bank of East Asia, Limited Declares Second Interim Dividend for the Year Ended 31 December, 2016, Payable on 30 March, 2017

The board of The Bank of East Asia, Limited has declared a second interim dividend for the year ended 31 December, 2016 of HKD 0.28 per share against second interim dividend of HKD 0.50 per share paid a year ago, which, together with the 2016 interim dividend of HKD 0.28 per share paid in September 2016, will constitute a total dividend of HKD 0.56 per share against total dividend of HKD 0.88 per share paid a year ago, for the full year. The 2016 Second Interim Dividend will be paid on or about 30 March, 2017 in cash with an option to receive new, fully paid shares in lieu of cash ("Scrip Dividend Scheme"), to shareholders whose names appear on the Register of Members of the Bank at the close of business on 7 March, 2017. The ex- dividend date for 2017 Second Interim Dividend will be on 2 March, 2017.

 

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23

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Valuation 23 Industry Range
Price/Earnings 30.0x
Price/Sales 7.1x
Price/Book 1.1x
Price/Cash Flow 23.8x
TEV/Sales NM Not Meaningful
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