Bank Of East Asia Singapore Branch Hit By Withdrawals

CNNMoney.com, 25 Sep 2008

SINGAPORE (AFP)--Dozens of clients descended on the Hong Kong-based Bank of East Asia's (BKEAY) office in Singapore Thursday after hearing rumors about its exposure to collapsed U.S. investment bank Lehman Brothers Holdings Inc. (LEHMQ) .

Some said they were there to withdraw their money, while others said they were contemplating their next move after getting assurances from bank staff and Singapore's central bank that the rumors were unfounded.

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