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Bank of East Asia Opens Branch in Macao
The Bank of East Asia Ltd. has strengthened its service in south China's Pearl River Delta with the opening Tuesday of its first branch in the Macao special administrative region (SAR).
With the opening of this new branch, the Hong Kong-based bank will offer more convenience for businesses and individuals active in the Pearl River Delta region, a center of China's export manufacturing industries, said Lai Tze Him, general manager of the bank branch.
The Macao branch will provide clients with comprehensive banking service, including deposits, remittances, money exchange, securities trading on the Hong Kong and international stock markets, mortgage loans, consumer finance, trade finance, commercial loans and syndicated loans.
Lai said that his bank is very confident in the future of Macao and the delta region, citing that with China set to join the World Trade Organization later this year, the region's export-oriented economy is forecast to grow strongly.
"With a good correspondent relationship with major international banks, we are committed to providing our customers with quality and efficient service," he said,
The Bank of East Asia, incorporated in 1918, has branches now in Zhuhai, Guangzhou and Shenzhen, and over 130 branches in Hong Kong.
Edmund Ho Hau Wah, chief executive of the Macao SAR, attended and cut ribbons for the opening ceremony.
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