Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Bank of East Asia ( (HK:0023) ) has provided an announcement.
The Bank of East Asia (BEA) has entered into a Framework Agreement with Sumitomo Mitsui Banking Corporation (SMBC) to facilitate Loan Transactions. This agreement, effective from May 2025 to May 2028, establishes a structured collaboration between BEA and SMBC, both of which are significant stakeholders under the Listing Rules. The agreement requires independent shareholder approval due to its substantial nature, and BEA has set up an Independent Board Committee with Gram Capital as the advisor to evaluate the transactions. Shareholder approval will be sought at the Annual General Meeting tentatively planned for May 2025, with related documentation to be distributed in March 2025.
More about Bank of East Asia
The Bank of East Asia, Limited (BEA) is a financial institution incorporated in Hong Kong, offering a range of banking and financial services. It operates within the banking sector, focusing on providing loans, deposits, and other financial products to its clients.
YTD Price Performance: -0.79%
Average Trading Volume: 1,252
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.32B
For a thorough assessment of 0023 stock, go to TipRanks’ Stock Analysis page.
