Founded in 1908, Bank of Communications (“BoCom” in short) 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.
BoCom set up 21 overseas banking branches, subsidiaries and representative office in 16 countries and regions, including branches in Hong Kong, New York, Tokyo, Singapore, Seoul, Frankfurt, Macau, Ho Chi Minh City, San Francisco, Sydney, Taipei, London, Luxembourg, Brisbane, Paris and Rome, subsidiaries in Hong Kong, UK, Luxembourg and Banco BoCom BBM S.A., and representative office in Toronto, and established 65 overseas banking outlets in total (excluding the representative offices).
In 2017, BoCom was honored ‘Top 500 Global Companies’ for nine consecutive years and was ranked No. 171 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, which went up 2 places compared to the previous year.
Currently, BoCom is one of the major financial service providers in China. The Group’s business scope includes commercial banking, securities, trust, financial leasing, fund management, insurance, and offshore financial services, etc. As at the end of the Reporting Period, the Bank has set up 235 domestic branches, including 30 Tier-1 branches, 7 directly operating branches of Head Office and 198 Tier-2 branches. 3,270 banking outlets were set up in 239 prefecture-level cities or above and 158 county-level cities nationwide. There are 7 non-bank subsidiaries, including wholly-owned subsidiaries such as BoCom Leasing, BoCom Insurance and BoCom Investment, and subsidiaries with the controlling interests including BoCom Fund, BoCom International Trust, BoCommLife Insurance and BoCom International. Moreover, the Bank is the largest shareholder of Changshu Rural Commercial Bank Co., Ltd. and the paratactic largest shareholder of Bank of Tibet Co., Ltd. The Bank has strategically invested in the Bank of Hainan, and controlled 4 rural banks.