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Bank of Communications (UK) Limited (BoCom Ltd) is a wholly-owned subsidiary of the Bank of Communications Co. Ltd (the Bank), which is a diversified financial services company based in China. For 16 years, the Bank has had a representative office in London, and the progression to a subsidiary in London is in line with the Banks’ expansion plans, and will benefit from the development of anticipated China - UK bilateral economic growth. BoCom Ltd successfully applied for and received a wholesale banking licence from the FSA in July 2011, and is now open for business in the UK.

The Bank was founded in China 1908. It is one of the oldest banks in China and was one of the first note-issuing banks in modern China. In June 2005, the Bank successfully listed on the Hong Kong Stock Exchange and became the first overseas-listed commercial bank in China. In May 2007, the Bank successfully issued A-shares and was listed on the Shanghai Stock Exchange. Currently the Bank is the fifth largest commercial bank in China in terms of assets. According to the ranking of the “Top 1000 World Banks 2012” published by the British magazine “The Banker”, the Bank’s total assets ranked 34th and its Tier-1 capital ranked 23th . HSBC is both a strategic partner and a shareholder, holding over 19% of the bank shares, and this has created many benefits for both parties including the Pacific Credit Card Centre which enables the bank to tap into the vast credit card market in Asia.

The Bank was the sole global commercial bank partner of the World Expo 2010 Shanghai and provided high quality financial services to both domestic and foreign customers. The Bank’s development strategy is to become “a first class public banking group focusing on wealth creation services by means of international expansion and by providing comprehensive services”.

BoCom Ltd offers a wide spectrum of wholesale banking services including corporate deposits, syndicated and bilateral loans, trade finance, international settlement, foreign exchange settlement, interbank loans and money market deposits. With the support from our parent bank in China, BoCom Ltd targeted clients are:

· Large listed multinational companies operating in UK, including Chinese companies or UK listed multi-nationals operating overseas

· Large UK and Chinese multinational clients based in UK

· UK owned business in China or UK based firms with business interests in China

· British Small and Medium Enterprises (SMEs) undertaking business in China and Small and Medium Enterprises based in China carrying out business with UK companies

· Large and medium sized financial institutions with good credit ratings

 

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