Bank of East Asia says may sell if offered up to 4 times book value

HONG KONG Tue Feb 18, 2014 2:05am EST

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HONG KONG Feb 18 (Reuters) - The chairman of Bank of East Asia Ltd, the largest family-controlled bank in Hong Kong, said on Tuesday he may consider selling the company if he is offered three to four times book value.

Bank of East Asia trades at 1.15 times trailing 12-month price to book, according to Thomson Reuters data.

Chairman David Li, speaking at a press conference after the company reported a record profit for 2013, also said the rise in non-performing loans in China was due to exposure to the manufacturing sector.

(Reporting By Saikat Chatterjee and Denny Thomas; Editing by Matt Driskill)

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