WHAT began as a bold idea has stood the test of time to become a symbol of Hong Kong's strength and growing importance as a gateway to China and one of the world's leading financial and commercial capitals.
That bold idea was The Bank of East Asia, which became the first indigenous Chinese bank in Hong Kong doing business on an international scale. On January 4, 1919, The Bank of East Asia opened its doors with just 20 employees.
Today, after serving generations of families and companies in Hong Kong, the Bank has 65 branches in the territory, and more than 2,000 employees, and plans to have 100 branches in Hong Kong by the year 2000.
In its first year, the Bank recorded deposits of $4 million, and a net profit of $370,268. Today, those deposits exceed $56 billion and the Bank's assets are valued at more than $61 billion.
Interim profits in 1993 were up more than 20 per cent on 1992 to $198 million.
The Bank of East Asia's 75 years have been marked by a dynamism that centres on its ability to innovate while remaining fiscally prudent.
David K. P. Li, Director and Chief Executive of The Bank of East Asia, believes the key to the Bank's success is its capacity to capitalise on its strength as it responds to market forces.
