On April 28th in Burlingame, San Mateo County, Bank of the Orient held a grand opening ceremony for its new branch, with lively drumming, lion dancing, and a ribbon-cutting ceremony symbolizing prosperity and attracting local officials, business leaders, members of the overseas Chinese community, and numerous residents.
Bank of the Orient CEO John Curtis, in an interview with Epoch Times, mentioned that the bank has been deeply rooted for 54 years since its establishment in 1971, making it the oldest and largest Chinese bank in San Francisco. Apart from the headquarters and three branches in the city, the bank also has branches in Millbrae and Oakland, with the latest addition in Burlingame. The bank’s assets are approaching $1 billion, and it is expected to exceed this milestone officially in June this year.
Curtis highlighted that over the past decade, the bank’s assets have doubled from approximately $400 million in 2015 to over $975 million today, with the loan business growing from $300 million to over $800 million, marking key expansion. He added that the bank’s sustained growth relies on a solid capital base, active deposit sources, proactive community outreach, increased staffing, and expanding service locations.
Curtis revealed plans for future expansion into Santa Clara County in the South Bay, with a presence already established in Sugar Land, Texas, aiming to further expand its service network across the United States.
Chairman of Bank of the Orient, Chen Tieming, expressed that the bank, with its roots in San Francisco spanning half a century, chose Burlingame due to its vibrant local community and warm atmosphere, aligning with the bank’s emphasis on personalized service and customer-centric approach. He noted that the bank has steadily grown each year in recent times, with successful teamwork, customer reputation, and community relationships being pivotal factors.
Looking ahead, he emphasized adapting to the trends in AI and information technology to reach younger clientele and Asian American communities beyond the traditional elderly base, deepening community connections and providing financial services that meet modern needs.
Millbrae Mayor Vincent Fung, in his speech, commended Bank of the Orient for opening branches in Millbrae and Burlingame consecutively over the past two months, demonstrating commitment to San Mateo County. He stressed the local government’s responsibility to assist businesses in finding success in a safe and stable environment, particularly during challenging economic times, supporting the stable development of small businesses, job creation, and community vitality.
Fung highlighted the county’s excellent public safety environment, welcoming more businesses to invest resources and contribute to the community’s prosperity.
Real estate icon Stanley Lo was also present at the opening, sharing his experiences humorously. He mentioned that Burlingame has become one of the busiest city centers in the Bay Area, attracting a large number of locals and visitors, presenting abundant business opportunities.
Lo praised Bank of the Orient for its continuity, recalling experiences with multiple banks facing closure or management changes, except for Bank of the Orient. He applauded CEO John Curtis for his personalized service, jokingly mentioning Curtis always answers the phone, even if he might be kissing his wife at that moment!
In conclusion, with warm regards, he congratulated Bank of the Orient on the new branch opening, wishing for continued growth and flourishing business prospects.