Bank of Communications Co., Ltd.
Founded in 1908, Bank of Communications Co., Ltd. (Stock codes: A shares 601328, H shares 03328) is one of the banks with the longest history and was one of the note-issuing banks in China in the past. Bank of Communications started its business operation after its re-establishment in 1987. It is the first nationwide state-owned joint-stock commercial bank in China, with its head office located in Shanghai. The Bank was listed on the Hong Kong Stock Exchange in June 2005 and on the Shanghai Stock Exchange in May 2007.
The Bank ranked No. 19 among the global top 1,000 banks in terms of Tier 1 Capital rated by The Banker in 2014, positioning among the top 20 of global banks and ranked No. 217 among the “Fortune 500 Companies”.
The Bank currently has 224 domestic branches, comprising 30 tier-1 branches, 7 branches directly managed by the Head Office and 187 tier-2 branches. The Bank has also established 2,785 banking outlets in 230 prefecture-level cities or above and 165 county-level cities nationwide. In addition, the Bank has set up 15 overseas institutions, which comprise branches in Hong Kong, New York, San Francisco, Tokyo, Singapore, Seoul, Frankfurt, Sydney, Macau, Ho Chi Minh City, Taipei and Brisbane, Bank of Communications (UK) Co., Ltd., Bank of Communications (Luxembourg) S.A. and representative office in Toronto.
The Bank is one of the major financial services providers in China. The Bank’s business scope comprises commercial banking, securities services, trust services, financial leasing, fund management, insurance, offshore financial services and so on. Its wholly-owned subsidiaries include BOCOM International Holdings Company Limited, China BOCOM Insurance Co., Ltd. and Bank of Communications Finance Leasing Co., Ltd. Subsidiaries controlled by the Bank include Bank of Communications Schroder Fund Management Co., Ltd., Bank of Communications International Trust Co., Ltd., BoCommLife Insurance Company Limited, Dayi Bocomm Xingmin Rural Bank, Zhejiang Anji BOCOM Rural Bank Ltd., Xinjiang Shihezi BOCOM Rural Bank and Qingdao Laoshan BOCOM Rural Bank. The Bank is also the largest shareholder of Jiangsu Changshu Rural Commercial Bank Co., Ltd. and the paratactic largest shareholder of Bank of Tibet Co., Ltd.
The Bank’s development strategy is to become “a first class listed comprehensive banking group focusing on international expansion and specialising in wealth management”.
Updated: 10th June, 2015