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Our Values
 
 
 
     Position: Investor Relations>> Our Values

 
About the Bank
 

– Organized and effective corporate governance system. The Bank has committed to high-level corporate governance, and established the corporate governance mechanism with Chinese characteristics. The Bank adheres to “Party Committee’s core leadership, strategic decisions of the Board of Directors, supervision of the Board of Supervisors, and full authority to Senior Management over business operations”. The Bank’s corporate governance has covered and extended to many areas such as the the development of the Party building, strategy management, authorized operation, risk and capital management, information disclosure and social responsibilities, fully safeguarding the legitimate interests and benefits of shareholders and other stakeholders. Party building, strategy management, authorized operation, risk and capital management, information disclosure and social responsibility, which effectively protects the legitimate rights of shareholders and other stakeholders. The Bank has stable ownership structure and a diversified, specialized and internationalized Board of Directors, whose members consist of experienced domestic and abroad bankers, well-known experts and scholars from different fields and lawyers, etc.

 

– Profound history background and strong comprehensive capabilities. This is the 110th anniversary of the Bank in 2018. As an existing national financial brand with the longest history, BoCom enjoys high recognition and reputation, known as a “century-old bank”. The total assets and net profits of the Group exceeded RMB9 trillion and RMB70 billion, respectively. The Bank was honored ‘Top 500 Global Companies’ for nine consecutive years by FORTUNE. It was also ranked at a top place in terms of Tier-1 Capital (No.11 among the global top 1,000 banks rated by The Banker), with strong comprehensive capabilities.

 

– Mega bank with spirit of reformation. The Bank has always been a pioneer of reformation in banking sector since reorganization, which provides the advantage in reformation and innovation. The Bank is the first national joint-stock commercial bank in China, the first integrated commercial bank to carry out banking, insurance and securities businesses, and the first domestic large-scale commercial bank to successfully bring in foreign capital and list overseas. In 2015, the Bank took the initiatives to be responsible for the financial pilot reform in China once again after the BoCom’s Plan to Strengthen Reformation approved by the State Council. The Bank steadily implemented the key project “20+20+21” for three consecutive years. The Bank deepened the reform at the basic level, promoted the reform of special authorization, appraisal and the reform of employees’ remuneration, according to the principle of “delegation, regulation, service”1. Therefore, the Bank achieved significant progress in divisional structure reform, and established development pattern of “two engines” of divisions and branches.

 

– Constant enhancement of global service ability. The Bank was committed to becoming a first-class international bank with remarkable advantages in international businesses and delivering of global financial services. The Bank is one of the most internationalized domestic banks in China. The overseas banking institution “Asia-Pacific as basis and Europe and America as two wings to expand the global landscape” has taken shape initially. The Bank set up 20 overseas banking institutions and 65 overseas banking outlets in total (excluding the representative offices) in over 16 countries and regions. Total asset of overseas banking institutions almost reached RMB1 trillion. At the same time, the Bank built agency relationships with 1,580 banks among 142 countries and regions, which provides cross-border Renminbi clearing service for 36 countries and regions.

 

– Continuous improvement of integrated financial service. The Bank was committed to becoming a integrated financial service group focusing on banking industry to serve the real economy through multiple channels and across the regions. Currently, the Bank ranked first-class in integration among all commercial banks. Besides the commercial banking businesses, the Bank extends its business to many areas such as trust, financial leasing, fund management, insurance, securities and debt-to-equity conversion, etc. The wholly-owned subsidiaries of the Bank include BoCom Leasing, BoCom International and BoCom Insurance, and subsidiaries controlled by the Bank include BoCom International, BoCom Fund, BoCom International Trust and BoCommLife Insurance. Additionally, BoCom International has listed on Hong Kong Stock Exchange in May 2017, becoming the first Chinese funded securities trader and listed in Hong Kong. As at the end of the Reporting Period, the total assets of BoCom Leasing came the top place in the industry, becoming the first domestic financial leasing company which had leasing assets of the on-balance sheet exceeded 200 billion.

 

– Progressive wealth management characteristics. The Bank initiated the concept of wealth management services among the banks in the industry at a earlier period of time. The brand and characteristics of wealth management become more and more prominent by continuous development of the wealth management service system. A tiered customer service brand system covering both high-end and mid-end customers and ordinary customers has been established in personal banking business. The core service brand “Win to Fortune” for high-end and mid-end customers reflected increasing market reputation. As at the end of the Reporting Period, asset under management (“AUM”) amounted to RMB2.88 trillion. With regard to corporate business, brand building of “Win to Fortune” has achieved initial success, coupled with the growing influence of key products including “Win to Fortune” account and “Win to Fortune” industrial chain. The Bank was awarded the ‘China Best Service Provider – Cash Management’ by Treasurer, and ‘Best Supply Chain Financing Bank in China’ by Asia Money in 2017.

 

– Established all-rounded “Full service” structure. The Bank is among the earliest banks that developed strategy oriented objective of enhancing services, and committed to “being the best bank in the finance industry” in 2013. The Bank persists in focusing on serving the real economy and constantly enhancing the ability and standard to serve the real economy. As at the end of the Reporting Period, the balance of loan of the Group reached RMB4,456.914 billion, with an increase of RMB353.955 billion from the beginning of the year, which effectively supports the development of the real economy. The Bank continued to promote standards and principles of service, innovate service model, and solve “problems” of customer experience. Moreover, the Bank accelerated the promotion of intelligent outlets, innovation and transform of service model and enhancement of convenient services. The Bank constantly improved the service channels of “Trinity” network (including physical outlets, e-banking, relationship manager) in order to create synergy effect combining online and offline services, and the all-rounded “Full service” is established progressively. Our advantage and characteristic provide excellent services. The Bank ranked No.1 of ‘Top 100 Model Entities’ by China Banking Association for a third time in 6 consecutive years. For 2017 assessment of customer right protection (banking sector) by the CBRC, the Bank is the only one that was awarded as first-class bank among national banking financial entities.

 

– Fully embraced financial technology development trend. The Bank takes a serious view on financial innovation. The Bank set up Product Innovation and Promotion Committee in 2010, continuously promoted businesses and product innovation on strategic level, established “531” project and innovation lab, and built a Fintech platform for financial businesses solution, artificial intelligence, biotechnology, blockchain, big data, and cloud computing etc., which provides a concrete technical foundation for exploring Fintech innovation. In order to adapt the trend of digitalization, the Bank set up Internet Financial Center, Online Financial Business Center, to promote the technology application such as big data, mobile communication and artificial intelligence. Furthermore, the Bank accelerated the construction of online channel, by focusing on development of mobile banking APP and Go Pay APP, which were top of the industry in terms of market influence and number of active clients. Meanwhile, the Bank accelerated the promotion of intelligent service outlets and lightening outlets via intelligent machines by introducing biotechnologies such as face and fingerprint recognition and remote smart service, in order to enhance customer service experience. In addition, the Bank established profound cooperation with Internet companies across industries. We strategically cooperated with Suning and Vipshop, exploring a win-win situation for finance and technology.

 

– Sound and effective comprehensive risk management system. The Bank has always adhered to the principle of steady operation, and fully implemented each requirement of comprehensive risk management system by the Central Committee. We have always upheld steady and cautious risk preference through operating management, and continuously improved the comprehensive risk management system of “full coverage, whole process, accountability and risk management culture”. During the Reporting Period, the Bank continued to reinforce risk management in key areas. Total high risk loans disposed or with additional credit risk instigation during the year amounted to RMB89.204 billion, in order to approve the ability to resolve and release risks. Prudential style of risk management constituted the Bank’s advantage of asset quality. As at the end of Reporting Period, the impaired loan ratio was 1.50%, decreasing by 2 basis points from the beginning of the year, lower than the average impaired loan ratio of Chinese commercial bank. Five of the six major asset quality indicators decreased while one increased compared to the beginning of the year. Thereinto the provision coverage ratio of impaired loans increased by 2.58 percentage points from the beginning of the year. Impaired loan rate decreased by 0.02 percentage points from the beginning of the year. The balances of overdue loan and overdue loan for over 90 days decreased by RMB9.426 billion and RMB10.359 billion respectively, compared with the beginning of the year; the ratio of overdue loan and overdue loan for more than 90 days decreased by 0.42 and 0.41 percentage points respectively from the beginning of the year. At the same time, there is no major risk event for years, and no significant issues were noted under various supervision and inspections. Compliance management of oversea institutions was well-recognized by the local supervising authority, and multiple oversea entities remained the best of regulatory rating among the local Chinese-funded banks.

 

– Fruitful strategic cooperation with HSBC. In 2004, the Bank entered into a strategic cooperation agreement with HSBC. Over the past decades, BoCom and HSBC have stable cooperation, and HSBC increased the share holdings of BoCom for several times. As at the end of the Reporting Period, HSBC was the second largest shareholder (19.03% of the total shares) of the Bank, who had two seats in the Board of Directors. Thereinto Mr. Peter Wong Tung Shun, held the post of Non-executive Vice Chairman of the Bank. Senior Management and business team from both sides kept closely communication and exercised each advantage, creating BoCom and HSBC “1 + 1” service brand. Cooperation continued to expand in areas such as international businesses, cooperate businesses, personal businesses, custody businesses, achieving mutual benefits and win-win results. The comprehensive strategic cooperation of BoCom and HSBC has been a model of success of cooperation to domestic and foreign banks.




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