IT was another busy day yesterday for Sun MJ, executive vice president of Bank of East Asia (China) Ltd, as he explained to several government and regulatory officials as well as the media that the bank's business on the Chinese mainland is stable and not hit by ''malicious rumors'' which have driven many of BEA's clients to queue at branches across Hong Kong on Wednesday.

"The Chinese mainland business is running smoothly without being hit by the rumors," said Sun yesterday. "We see no mainland clients lining to claim back their deposits due to the rumors though we have made preparations including ample capital in case it happens.''

Sun said he assured officials from the banking regulator, the central bank and the Shanghai government of BEA's stability.

BEA China held a last-minute media briefing yesterday to clarify the rumors in Hong Kong which questioned the bank's financial stability.

Sun said BEA China's unaudited profit jumped more than 50 percent in the first half of the year. Deposits swelled almost 200 percent while lending grew about 30 percent in the first eight months, he said.

Its loan-to-deposits ratio dropped close to 100 percent from more than 400 percent - the level when it incorporated locally in April 2007.

The bank is required to meet the 75 percent requirement in five years after incorporation.

"BEA China has zero involvement in Lehman or AIG exposure," Sun reiterated.

"What's of relief to me is that the mainland clients are all understanding and the rumors didn't shake them," Sun said.

Donald Tsang, chief executive of Hong Kong, the Hong Kong Monetary Authority, and John Tsang, the city's financial secretary have also assured the bank's jittery savers on the stability of BEA, the third biggest bank in Hong Kong.

Hong Kong people queued at BEA branches to redeem their money from the 90-year-old bank on Wednesday after rumors questioned the bank's financial stability.