HK, Spanish banks cooperate on market promotion in China
( 2003-12-30 23:00) (Xinhua)
The Bank of East Asia, Limited ( BEA) and Banco
Popular Espanol Group (BPEG) Tuesday jointly announced that they had signed a
Business Cooperation Agreement setting out a framework for cooperation between
the two banks covering the Chinese mainland.
This is an important milestone for both banks, as the two banks have a strong
mutual interest in exploring the opportunities for developing business in the
Chinese mainland, China's Hong Kong and China's Taiwan.
The cooperation framework enables the BPEG to expand its international reach
and respond to rising demand from its corporate customers for banking and
related services in China.
Through its well-established branch network in the Chinese mainland, BEA
offers a comprehensive range of banking services, including company accounts,
RMB/USD loan facilities, remittance, trade finance, project finance and
consultancy services.
Meanwhile, the BPEG will provide financial services through its network in
Spain for BEA customers doing business in Spain and Portugal.
The BPEG is the third largest banking group in Spain, with a nationwide
coverage and presence in Spain, France and Portugal. The group has a broad
network of over 2,200 branches. The BPEG now has a customer base of 4.9 million,
including over 371,000 cooperates.
Established in 1918, BEA is the largest independent local bank in Hong Kong
with total assets of 24.3 billion US dollars as of June 30, 2003. BEA now
operates over 100 branches and SupremeGold Centers in Hong Kong and eight
branches in the Chinese mainland, and maintains a strong presence in the United
States, Canada, Britain and South East Asian countries.
With the signing of this cooperation agreement, BEA and the BPEG look forward
to exploring additional areas of cooperation that will be mutual interest and
benefit to both banks.
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