BEA reviews future of consumer finance unit

Hong Kong’s largest independent bank has been working to refocus capital on its core banking business as well as improve its capital position.

The Bank of East Asia is conducting a strategic review of its wholly-owned consumer finance unit, Credit Gain Finance, according to a person familiar with the process. 

No decision on the future of Credit Gain has yet been made, according to the person. Another person familiar with the process said BEA is conducting an auction for Credit Gain and had already attracted potential suitors.

BEA has been working to refocus capital on its core banking business as well as improve its capital position.

In March, the Hong Kong bank completed the sale of back office services unit Tricor Holdings to private equity firm...

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