The Bank of East Asia (BEA) has signed a memorandum of mutual understanding (MOU) with Malaysian financial services conglomerate Affin Holdings (AHB) to formally establish a strategic partnership.
Under the MOU, the two financial institutions will jointly develop their business potential in Mainland China, Hong Kong, Malaysia, and other key markets where they both operate.
AHB will support BEA’s business expansion plans in Malaysia. The partnership will also allow AHB to enhance its ability to support its Malaysian customers in Mainland China and Hong Kong by leveraging BEA’s branch network and, financial products and services.
BEA chairman and CEO David Li said that this MOU strengthens the ability of both BEA and AHB to serve customers and explore business opportunities in Greater China and Southeast Asia.
“Through this alliance, we look forward to delivering to our customers an even wider range of innovative products and services developed in co-operation with AHB,” Li said.