BANK of East Asia (BEA) will create a new image for its newly acquired United Chinese Bank (UCB), making it a consumer finance bank for young adults.
To complement BEA's customer base, which consists mainly of established individuals and corporates, the 16-branch UCB will lure the younger set with quick personal finance service.
On the corporate side, it will aim for medium-sized companies.
Its ideal loan portfolio will be instalment loans such as home financing (30 to 40 per cent), consumer financing (20 to 30 per cent) and trade financing (30 to 50 per cent).
UCB and BEA chairman David Li Kwok-po said: 'There will be more emphasis on shorter-term loans such as credit-card loans, car loans and trade finance with Taiwan and China.' Besides a sharpened business focus, UCB will act as a bridge to tap the Taiwan and China markets.
While keeping UCB's independence, BEA has four seats on UCB's 17-member board.