Bank of E Asia (00023.HK) officially opened its Wealth Management Center at Harbour City today. Lee Man Keung, Co-CEO of Bank of E Asia, indicated that the bank's cross-border business grew rapidly in the first quarter of this year. The private wealth management customers at Hanson Wealth Management increased by 30% and the number of cross-border customers from the mainland increased by nearly 50% YoY, driving the annual growth of related customer assets by more than 60%.

Looking ahead to the interest rate environment, he pointed out that the market expects the Federal Reserve to cut interest rates in an orderly manner in the second half of the year. As for whether Hong Kong banks will follow suit and cut rates, it depends on the liquidity, loan demand and business strategy of different banks. We will keep an eye on it.

In the first quarter of this year, the number of mobile wealth management transactions at the bank increased by 42% YoY.