Bank of East Asia to recapitalize Agrobanka in early 2012 - Bank ready to invest EUR 100 million

As Novosti daily learns, China's Bank of East Asia (BEA), controlled by the Li family and the third largest bank in Hong Kong, is going to recapitalize Serbia's Agrobanka early next year. This bank will invest about EUR 100 million in Agrobanka in several phases, and the recapitalization process will depend on the Serbian government's decision.

The Bank of East Asia has the most developed banking network in China, comprising 88 retail branches, 62 Supreme Gold and 6 financial centers in Hong Kong, and the Bank's assets reached USD 77 billion in mid-2011.

Outside the territory of the Republic of China, BEA is present in North America, Great Britain, and southeast Asia. Worldwide, BEA operates over 220 organizational units and employs more than 12,000 people.

Agrobanka is among the medium-sized banks in Serbia, ranking 11th in the amount of balance sheet assets in the Republic of Serbia.