Bank of East Asia Invests US$196 Million to Boost Fintech Innovationby Fintech News Hong Kong January 15, 2024
The Bank of East Asia (BEA) officially opened its new BEA Tower in the Qianhai special economic zone, Shenzhen.The recent inauguration of the BEA Tower signifies a major advancement in the bank’s growth in the Greater Bay Area, emphasising wealth management and fintech.
The 105-year-old bank invested 1.4 billion yuan (US$196 million) in this new facility, which includes its Qianhai branch, the Beast fintech innovation centre, and a data lab, housing around 500 employees.
Adrian Li Man-kiu, co-CEO of Bank of East Asia, during the event said,
“This building will serve as our strategic hub for the Greater Bay Area, facilitating closer collaboration between members of the BEA group and enabling us to provide more seamless cross-boundary services to our customers.”
Hong Kong’s internationalised market, product offerings and talent pool can make proactive contributions to the financial liberalisation and innovation of the Greater Bay Area, not only in such established sectors as securities, banking, insurance and asset management, but also in the emerging fields of green finance and fintech,”
said Hong Kong’s Chief Executive John Lee Ka-chiu in a pre-recorded video message.
Featured image credit: Edited from Unsplash