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  "documentTitle": "Bank of East Asia, Limited (0023.HK)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
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  "presentationDate": "2016-02-04 00:00:00",
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  "notes": "BEA is highlighted in yellow in the charts. The slide argues that a lower proportion of customer deposits (specifically current/savings) leads to higher funding costs.",
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      "text": "BEA HK has a relatively lower proportion of customer deposits as compared with its peers, the bulk of which are more expensive time deposits, which in turn leads to a higher cost-of-funding",
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      "text": "Hong Kong Deposits by type",
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      "text": "Hong Kong Liabilities composition",
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      "text": "cost of funding: 1.66%",
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      "text": "BEA HK has a relatively lower proportion of customer deposits as compared with its peers, the bulk of which are more expensive time deposits, which in turn leads to a higher cost-of-funding",
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      "kind": "source-note",
      "text": "Source: Company disclosures. Note: Averages exclude BEA; figures based on Hong Kong segments only.",
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      "kind": "title",
      "text": "BEA HK's consistently weak NIM is primarily a result of its inability to compete on funding costs, which remain higher than its peers",
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