Savers mob HK bank branches
Hundreds of Hong Kong savers mobbed branches of Bank of East Asia Wednesday to withdraw deposits, as the bank scrambled to reassure them it was not overexposed to Lehman Brothers and AIG.
Police were called in to control the crowds after text messages flashed across the city warning the bank unstable due to its links to the failed Wall Street bank and the insurance giant.
But BEA and the city's financial authorities moved quickly to rebuff the accusations, insisting the bank was in a solid financial position.
"It has come to the notice of The Bank of East Asia (BEA)... that malicious rumours have been circulated questioning the stability of the bank," the bank said in a statement.
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