Brian Li Man-bun, deputy CEO of the Bank of East Asia (00023.HK), said that the bank is currently opening 12-18 branches and sub-branches in the PRC each year and he expects to open 10-15 branches and sub-branches a year in the future. He thinks that the pace of opening PRC branches will not change despite uncertain economic conditions in China.

The bank is expanding its staff by 10% a year and currently employs 4,000 employees in the PRC, he said.