Bank of East Asia
Founded in 1918, Bank of East Asia is the largest independent local bank and third largest bank in Hong Kong. It was co-founded in 1918 by Li Koon-chun, grandfather of David Li Kwok-po, who has been its chief executive since 1981.
Bank of East Asia gives branches a makeover to attract younger clients
Bank of East Asia, Hong Kong's third-biggest lender, is revamping the displays at all its branches to attract more young customers.
Adrian Li Man-kiu, the bank's deputy chief executive, unveiled a plan yesterday to equip its 88 retail branches with brand displays sporting a new look based on a band of five coloured rays of light over the next two months. It will be the lender's first revamp in 10 years.
"At present, about 80 per cent of all transactions are not conducted through our branch network, as most people use ATMs, telephones or the internet to deal with their accounts," Li said.
"But branches are still playing an important role in maintaining human contact, serving new clients who want to open accounts and allowing our staff to give detailed explanations to customers who want to buy insurance or investment products."
Li said the bank would continue to improve its retail network, closing smaller branches and opening bigger ones in better locations.
"We have one of the largest branch networks in Hong Kong," he said. "However, the displays are not as attractive as other banks. We hope the revamp will make a difference."
Li said the change would help attract younger people to open accounts with the bank.
BEA has used Facebook since last year, inviting Canto-pop star Joey Yung Cho-yee to write a blog for its page.
"We do not want to have an ageing customer portfolio," Li said. "We have to keep finding ways to attract younger affluent customers aged 25 to 40, who are the ones most likely to buy insurance and investment products."
BEA also plans to launch fixed-rate mortgages and introduce more yuan products.