Founded in 1908, BoCom is one of the
note-issuing banks with the longest history in modern China. BoCom reopened
after reorganization on 1 April 1987. It is the first nationwide state-owned
joint-stock commercial bank in China, with 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’s business scope includes
commercial banking, securities, offshore financial services, fund management,
trust, financial leasing, insurance, offshore securities, debt-for-equity
swaps, and asset management, etc.
As at the end of 2020, the Bank has set up 245 domestic branches, including 30 Tier-1 branches, 7 directly operating branches
of Head Office and 208 Tier-2 branches. 2,929 banking outlets were set up in
245 prefecture-level cities or above and 162 county-level cities nationwide.
There are several non-bank subsidiaries, mainly including wholly-owned
subsidiaries such as Bank of Communications Financial Leasing Co., Ltd., and BoCom Financial Asset Investment Co., Ltd., BOCOM Wealth Management Co., Ltd., China
BoCom Insurance Co., Ltd., and subsidiaries with the
controlling interests including Bank of Communications Schroder Fund Management
Co., Ltd., Bank of Communications International Trust Co., Ltd., BoCommLife
Insurance Company Limited and BoCom International Holdings Company Limited.
BoCom set up 23 overseas banking
subsidiaries and branches, including Hong Kong
Branch and Bank of Communications (Hong Kong) Limited, New York Branch, Tokyo
Branch, Singapore Branch, Seoul Branch, Frankfurt Branch, Macau Branch, Ho Chi
Minh City Branch, San Francisco Branch, Sydney Branch, Taipei Branch, London
Branch and Bank of Communications (UK) Ltd., Bank of Communications
(Luxembourg) S.A. and Luxembourg Branch, Brisbane Branch, Bank of
Communications (Luxembourg) S.A. Paris Branch, Bank of Communications
(Luxembourg) S.A. Rome Branch, Bank of Communications (Brazil) Co., Ltd.,
Melbourne Branch Prague Branch and Toronto representative office, and
established 69 overseas banking outlets in total (excluding the representative
In 2015, the State Council approved BoCom’s Plan to
Strengthen Reformation. The strengthened reformation concentrates on three key areas
including refining corporate governance mechanism as a large commercial bank,
reinforcing operational improvements and promoting transformation, and
innovating operating model. BoCom steadily implemented reform programs. In
recent years, BoCom focused on three key reformation including organizing
personnel, the “New 531” project and the risk credit management. The positive
effect of reforms, stimulation of transformation forces and the enhancement of
core development indicator are anticipated. In 2020, BoCom was honored “Top 500
Global Companies” for the twelveth consecutive years and was ranked No. 162 in
terms of revenue by FORTUNE. It was
ranked No. 11 among the global top 1,000 banks in terms of Tier-1 Capital rated
by The Banker for the fourth consecutive years .
As a large state-owned banking group
with the long history, distinct strategy, normative governance, moderate
operation and high-quality services, BoCom always adheres to the State’s
strategies and serve the real economy. BoCom continually strengthens total risk
management, deepens reform, and does the best to provide best services to
customers and rewards the shareholders, employees and society.