The Asian lender, which includes wealth management in its offerings, reported profits for the third quarter and nine-month period of 2016, and said the disposal of a bank stake was in line with its long-term strategy.

Bank of China Hong Kong yesterday said it considering a possible disposal move, while separately stating that in the first nine months of 2016, it logged an operating profit before impairments of HK$22.336 billion, a year-on-year rise of 2 per cent.

The Asian lender said net operating income before impairments in the nine-month period was HK$31.227 billion, up slightly more than 3 per cent, according to a statement.

Bank of China and BOCHK Holdings said a review of their banking strategies had reached a "mature stage" and that selling a majority stake in Chiyu Banking Corporation is "consistent with the long term development of the group in the Hong Kong region".

The disposal relates to 70.49 per cent of interest in Chiyu by BOCHK, a direct wholly-owned subsidiary of BOCHK (Holdings) and an indirect 66.06 per cent subsidiary of Bank of China, the statement said.