Bank of East Asia : BEA China Becomes the First Foreign Bank to Receive Approval to Open a Full Branch in Qianhai, Shenzhen

For Immediate Release

BEA China Becomes the First Foreign Bank to Receive Approval to Open a Full Branch in Qianhai, Shenzhen

Hong Kong, 13th July, 2018 - The Bank of East Asia, Limited ("BEA") today announces that its wholly-owned subsidiary in Mainland China, The Bank of East Asia (China) Limited ("BEA China"), has received approval from the China Banking Insurance Regulatory Commission ("CBIRC") to upgrade its Shenzhen Qianhai Sub-branch to a branch. With this approval, BEA China has become the first foreign bank on the Mainland to be allowed to set up a branch in Qianhai, Shenzhen.

Commenting on this development, Mr Brian Li, Executive Director & Deputy Chief Executive of BEA and Vice Chairman of BEA China, said: "The unique status of the Guangdong-Hong Kong-Macao Greater Bay Area will provide unprecedented opportunities for financial institutions in the region, and Qianhai serves the role as a core driver for development in the Area. To capitalise on growth opportunities, BEA China applied for approval to upgrade its Qianhai Sub-branch to a full branch to provide more comprehensive services to customers in Qianhai and to act as a positive force in fostering the development of Qianhai and the Greater Bay Area."

As the first foreign bank to enter Qianhai, BEA China took the lead in setting up its Qianhai Sub-branch in early 2013, focussing on supporting and serving the development of the zone. Having provided banking services to the neighbouring community for five years, BEA China's Qianhai Sub-branch has developed a solid customer base and service system, and has established strategic partnerships with a number of innovative institutions and service platforms in Qianhai.

Upon the completion of licensing procedures and system upgrades, Qianhai branch will provide comprehensive banking and financial services under its full branch status for customers and partners in Qianhai and throughout the Greater Bay Area, and will actively explore opportunity for cross-border innovative financial services.

About The Bank of East Asia, Limited

Incorporated in 1918, BEA is a leading Hong Kong financial services group, serving the needs of customers throughout Greater China and beyond, with total consolidated assets of HK$808.9 billion (US$103.5 billion) as of 31st December, 2017. Listed on The Stock Exchange of Hong Kong, the Bank is a constituent stock of the Hang Seng Index.

BEA offers customers a comprehensive range of corporate banking, personal banking, wealth management, and investment services through an extensive network of around

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200 outlets covering Hong Kong and the rest of Greater China, Southeast Asia, the United Kingdom, and the United States. For more information, please visit any BEA branch or the Bank's homepage atwww.hkbea.com.

About The Bank of East Asia (China) Limited

Headquartered in Shanghai, The Bank of East Asia (China) Limited ("BEA China") was one of the first foreign banks to receive approval from the China Banking Regulatory Commission to establish a locally-incorporated bank in Mainland China. Leveraging its deep insights into the China market as well as BEA (HK) Head Office's banking expertise in Hong Kong and overseas, BEA China offers a wide range of banking and financial services to customers. BEA China operates one of the largest networks of any foreign bank in Mainland China. For more information, please visit BEA China's homepage atwww.hkbea.com.cn.

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Media enquiries:

Mr. Eric Yip

General Manager & Head of China Division The Bank of East Asia, Limited

Tel.: 852 - 3608 3008

Email:yipech@hkbea.com

BEA - Operator of one of the largest banking networks in Hong Kong

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