Bank of China

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Bank of China Limited

logo
legal form Centrally managed company
ISIN CNE1000001Z5
founding 1912
Seat Beijing , People's Republic of China
management Tian Guoli (Chairman of the Board of Directors)
Chen Siqing (Vice Chairman and President)
Number of employees 308,900 (December 31, 2016)
sales $ 113.1 billion (2016)
Branch Banks
Website www.boc.cn

The headquarters in Beijing
Branch in Hamburg

Bank of China Limited (BOC) is a finance company from China . The company's headquarters are in Beijing . Alongside the ICBC , China Construction Bank and the Agricultural Bank of China , the BOC is one of the four largest state banks in China. Often referred to as a "gang of four".

The bank is one of the 30 major banks that the Financial Stability Board (FSB) as "systemically important financial institution" ( systemically important financial institution ) were classified. It is therefore subject to special monitoring and stricter requirements for the endowment with equity .

With a turnover of 113.1 billion US dollars and a profit of 24.9 billion US dollars, the Bank of China is the 7th largest bank in the world according to Forbes Global 2000 (as of 2017). The bank had a market capitalization of $ 141.3 billion in early 2017 .

history

The company was founded in 1912 to replace Ta Ching Government Bank, the oldest bank in China.

From its founding in 1912 to 1942, banknotes were issued by the “Big Four” banking group, which also included the Central Bank of China , Agricultural Bank of China and Bank of Communications . Although it initially served as the central bank for the government of China, it was replaced by the Central Bank of China in 1928. Over time, BOC became a commercial bank.

After the Chinese Civil War, which ended in 1949, the Bank of China was divided into two parts. Part of the bank was located in Taiwan under the Kuomintang government . In 1971, this part of Taiwan was privatized and given the name International Commercial Bank of China . In the meantime, this in turn merged with the Taiwanese branch of the Chinese Bank of Communications (there "Bank of Transportation") to form Mega International Commercial Bank .

The other part of the BOC in China became the second largest loan bank in China in the country and the eighth largest bank in market capitalization in the world.

The bank remained 100 percent owned by the Chinese state for a long time and was controlled by Central Huijin Investment and the National Council for Social Security Fund (SSF).

In August 2005 a strategic partnership was agreed with the Royal Bank of Scotland (RBS). Under the agreement, RBS bought 10% of BOC for $ 3.1 billion.

Then, in June 2006, a stake in BOC went public, which is equivalent to around 25%. BOC's initial public offering was the largest ever since 2000 and the fourth largest in the history of the stock exchange to date.

Ownership structure

Bank of China Tower in Hong Kong

Status: June 7, 2006:

Subsidiaries and investments

Bank of China's subsidiary is the Hong Kong- based banking company Bank of China (Hong Kong) .

Branch offices in Germany

Bank of China has six branches in Germany. These are in Berlin , Düsseldorf , Hamburg , Munich , Frankfurt am Main and Stuttgart .

Web links

Commons : Bank of China  - Collection of Pictures, Videos and Audio Files

Individual evidence

  1. ↑ [1] , April 23, 2017. Retrieved November 20, 2017.
  2. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 102 kB)
  3. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF file; 42 kB) from November 1, 2012
  4. ^ Bank of China on the Forbes Global 2000 List . In: Forbes . ( forbes.com [accessed November 20, 2017]).
  5. ↑ http://money.cnn.com/2006/06/01/news/international/bc.financial.china.boc.reut/?section=money_news_international  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / money.cnn.com  
  6. ↑ branches. Retrieved May 9, 2020 .