Bank of East Asia touts commitment to SMEs as it reports 20% first-half profit slump

Bank of East Asia (BEA), Hong Kong’s largest family-owned lender, has pledged continuing dedication to the city’s small and medium-sized enterprises (SMEs) amid concerns that many such companies are struggling with cash-flow issues.

The bank, which focuses primarily on Hong Kong and mainland China, said it approved HK$2.6 billion (US$333.6 million) in SME loans via around 80 transactions in the first six months of this year.