The Bank of East Asia (HKG:0023) agreed to acquire certain loans and credit facilities from CaixaBank for a total of HK$1.18 billion, a Wednesday Hong Kong bourse filing said.
The loans comprise two loan facilities and two credit facilities worth a total of $150 million granted to three borrowers by CaixaBank.
The agreement will boost loan financing business cooperation between the two lender and diversify Bank of East Asia's loan portfolio.
CaixaBank is an associate of Criteria Caixa, a substantial shareholder of Bank of East Asia.
Shares of the lender were up nearly 3% in recent trade.
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