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, financial leasing, fund management, asset management, trust, insurance, offshore securities, debt-for-equity swaps, offshore financial services, and etc. 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.
As at the end of June 2022, the Bank has set up 248 domestic branches, including 30 Tier-1 branches, 7 directly operating branches of Head Office and 211 Tier-2 branches. 2,868 banking outlets were set up nationwide. BoCom set up 23 overseas banking subsidiaries and branches in Hong Kong, Macau, Taibei, Tokyo, Soul, Singapore, Ho Chi Minh City, Sydney, Brisbane, Melbourne, Frankfurt, London, Luxembourg, Paris, Rome, Prague, New York, San Francisco Branch, Toronto, Rio de Janeiro, Johannesburg, etc.
while remaining committed to the strategic objective of “building the first-tier bank with wealth management characteristics and global competitive capabilities in the world”, the Group issued an outline of the development plan for the period of the 14th Five-Year Plan and focused on the two main areas of the construction of “Shanghai Base” and the construction of “New Digital BoCom”, built four business features and improved five professional capabilities, promoting both reasonable growth in quantity and steady improvement in quality of the business.
In 2021, BoCom was honored “Top 500 Global Companies” for the thirteenth consecutive years and was ranked No. 137 in terms of revenue by FORTUNE. It was ranked No. 10 among the global top 1,000 banks in terms of Tier-1 Capital rated by The Banker, jumped 1 place than last year.
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.