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Bank of China (Hong Kong)

Bank of China is one of the largest state-owned commercial banks in China.

Categories

Financial and Banking  

#73

Rank

$170.48B

MarketCap CN

CN China

Country

Summary

Bank of China (Hong Kong) Limited (BOCHK) is a subsidiary of Bank of China Limited, one of the big four state-owned commercial banks in the People's Republic of China. Founded in 1917, BOCHK is headquartered in Hong Kong and is one of the leading commercial banks in Hong Kong. It offers a wide range of financial products and services, including personal banking, corporate banking, investment banking, insurance, and wealth management services to its customers.

BOCHK operates in Mainland China and has an extensive international network with branches and subsidiaries in more than 30 countries and regions worldwide. The bank has a large customer base, including corporations, government agencies, and individual customers, both in Hong Kong and internationally.

BOCHK has been a pioneer in the development of the banking industry in Hong Kong and is committed to supporting the economic and social development of China. The bank has won numerous awards and recognition for its outstanding performance in various areas, including corporate governance, risk management, and customer service. BOCHK's mission is to provide high-quality financial services to its customers and contribute to the economic and social development of the regions it operates in.


History

Bank of China (Hong Kong) Limited (BOCHK) is a subsidiary of the Bank of China (BOC) Group, a state-owned commercial bank in the People's Republic of China. The bank was founded in 1917 as China's central bank, replacing the Ta-Ching Government Bank of the Qing Dynasty. In 1949, following the establishment of the People's Republic of China, the bank was restructured and renamed the People's Bank of China, with its functions as a commercial bank being transferred to other state-owned banks.

In 1950, the Bank of China (Hong Kong) Limited was established in Hong Kong as a subsidiary of the Bank of China. It became the first Chinese-owned bank to offer local banking services in Hong Kong and played a crucial role in the development of Hong Kong's financial industry.

Throughout the 1960s and 1970s, Bank of China (Hong Kong) Limited continued to expand its operations in Hong Kong, establishing new branches and developing its range of financial products and services. In the 1980s, the bank expanded its international presence, opening branches in a number of countries around the world, including the United States, Canada, and Japan.

In the years that followed, Bank of China (Hong Kong) Limited continued to grow and evolve, expanding its operations to include corporate banking, personal banking, investment banking, and wealth management services. Today, it is one of the largest banks in Hong Kong, with a large customer base that includes corporations, government agencies, and individual customers. The bank is committed to providing high-quality financial services and contributing to the economic and social development of China.


Mission

The mission of Bank of China is to provide comprehensive financial services for its customers and to contribute to the economic and social development of China and the world. The bank is committed to serving the real economy, supporting the Belt and Road Initiative, and promoting international economic and financial cooperation. With its focus on innovation, risk management, and sustainable development, Bank of China strives to be a leading financial institution in China and globally, and to provide high-quality and efficient services to its customers.


Vision

Bank of China vision is to become a provider of high-quality financial services and a builder of connected platforms. Their values are to provide excellent service, innovate with prudence, uphold openness and inclusiveness, and collaborate for mutual growth.


Key Team

Mr. Zhiheng Wang (Exec. VP)

Mr. Jingzhen Lin (Exec. VP & Exec. Director)

Mr. Wei Wang (Exec. VP & Exec. Director)

Mr. Huaiyu Chen (Exec. VP)

Mr. Chengwen Zhuo (Chief Audit Officer)

Jianguang Wu (Gen. Mang. of Financial Management Department)

Ms. Yan Liu (Chief Audit Mang.)


Recognition and Awards
Bank of China has received several awards, including the Interior Design: Banking and Financial Services and Cover Photo/Design: Banking and Financial Services: Hong Kong/PRC awards from Bank of China (Hong Kong) Limited, the Financial Golden Tie Award - Best Private Bank in China, wallstreetcn.com; Award for Outstanding Reputational Risk Management of the Year, JRJ.com; Excellent award from Industrial and Commercial Bank of China, the "Best Bank in China" award at the “2020 Awards for Excellence” ceremony staged by Euromoney, and three awards at once – "Bank of the Year – global and regional winners", "Bank Transformation of the Year" and "Innovation in Retail Banking" from ICBC.

Products and Services

Bank of China (Hong Kong) Limited (BOCHK) offers a wide range of banking and financial products and services to meet the needs of its customers. These include:

1. Personal Banking: BOCHK provides various personal banking services such as savings accounts, current accounts, time deposits, foreign currency deposits, credit cards, personal loans, mortgages, and wealth management services.

2. Corporate Banking: BOCHK offers a comprehensive range of corporate banking services including corporate loans, trade finance, cash management, treasury services, commercial cards, and corporate wealth management services.

3. Investment Banking: BOCHK provides investment banking services such as equity and debt underwriting, mergers and acquisitions, corporate finance advisory, asset management, and securities brokerage.

4. Wealth Management: BOCHK offers a wide range of wealth management products and services, including private banking, investment advisory services, asset management, insurance, and trust services.

5. Insurance Services: BOCHK provides a range of insurance products such as life insurance, general insurance, and investment-linked insurance products.

6. International Banking: BOCHK provides international banking services, including global trade finance, foreign exchange, international money transfers, and correspondent banking services.

7. Digital Banking: BOCHK offers various digital banking services such as internet banking, mobile banking, online stock trading, e-wallet, and virtual credit cards.

In addition to these products and services, BOCHK also provides tailored solutions to meet the specific needs of its customers. BOCHK has a strong focus on innovation and is continuously introducing new products and services to meet the evolving needs of its customers.


References

Bank of China (Hong Kong) | | Wikipedia 

Bank of China (Hong Kong) | Crunchbase 

Bank of China Limited (3988.HK) | Yahoo Finance 

Bank of China Bank of China Singapore Branch holds the Qualifying Full Bank License in Singapore | Comparably 

Companies ranked by revenue | Companiesmarketcap

Bank of China Hong Kong Ltd | Bloomberg 

BOC Hong Kong | Forbes

BOC Hong Kong (Holdings) Ltd Company profile | Globaldata 

BOC Hong Kong Holdings Ltd | Financial Times 

China’s central bank cuts key interest rate amid concerns for economy | Aljazeera

Yuan slump turns Hong Kong into haven as mainland Chinese rush for higher bank rates, insurance policies and US dollar | SCMP 

Weekly Digest: China wealth fund to hold meeting in Hong Kong | Asianinvestor

Hong Kong-Zhuhai-Macao Bridge (Hong Kong Section) Half Marathon 2023 | Timeout 

Exclusive | Dutch bank ING to boost recruitment drive in Asia amid growing demand for green and sustainable finance across the region | SCMP 

Marketers navigate a new audience as preferences and priorities change | SCMP 

Top experts share insights at Wealth Management Expo 2023 presented by Bank of China (Hong Kong) and organized by Metro Finance FM 104 | Macaubusiness

ByteDance and CNPC take over Hong Kong offices vacated by foreign companies | Financial Times 

China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg | Yahoo Finance 

Hong Kong to allow lenders from Qatar, UAE to advise on local banking sector in a boost to financial ties with Middle East | Yahoo Finance 

Bank of China (Hong Kong)
Leadership team

Mr. Jin Liu (Pres & Exec. Vice Chairman)

Mr. Jiandong Liu (Chief Risk Officer)

Industries

Financial and Banking

Products/ Services
Banking, Commercial, Finance, Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Ban Nong Kong Chak, Chon Buri, Thailand
Established
2001
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001127449
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
601988.SS
Social Media

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