la Caixa, a savings bank, and The Bank of East Asia have signed a business alliance agreement that sets out a framework for cooperation between the two companies in China and Hong Kong, and signifies the mutual interest of both financial institutions in expanding their business potential in the region.

By entering into this agreement, la Caixa will be able to meet various financial needs of its customers in China and Hong Kong. Through the extensive branch network of The Bank of East Asia (BEA) in China and Hong Kong, la Caixa customers can enjoy a comprehensive range of financial services, including account opening, settlement, trade finance, financing in Renminbi and
in other foreign currencies.

On the other hand, la Caixa will support BEA’s customers in exploring opportunities and developing their businesses in Spain. The collaboration of both financial institutions will be extended to information exchange on local financial situations.

David Li, chairman and CEO of BEA, said: We are very pleased to announce
BEA’s cooperative relationship with la Caixa. la Caixa and BEA have been working together for a number of years and I believe that today’s announcement of our formal collaboration will further enhance the competitive position of both banks, and our value to our clients.

Juan Maraa Nin, CEO of la Caixa, added: la Caixa and its customers will benefit from BEA’s prestige and strengths as the largest independent local bank in Hong Kong and one of largest foreign banks in China in terms of branch coverage. This cooperation perfectly suits the values and strategies of both financial institutions, which are leaders in retail banking, and enables them to offer the best and most comprehensive range of financial services to their customers in Europe and Asia.