Bank of China (Hong Kong)
Your premier bank
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| Public company | |
| Traded as |
SEHK: 2388 OTC Pink: (listing is as BOC Hong Kong (Holdings) Limited) |
| Founded | 2001 |
| Headquarters |
Bank of China Tower Hong Kong |
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Key people
|
Xiao Gang, chairman He Guangbei, CEO |
| Products | Commercial banking |
| Revenue |
 US$5,5 billion (2010) |
|
US$2,8 billion (2010) |
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| Total assets |
US$213,7 billion (2010) |
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Number of employees
|
13,900 (2011) |
| Website | www.bochk.com |
Bank of China (Hong Kong) Limited (BOCHK, Chinese: 中國銀行(香港)公司) is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed on the in October 2002. As of the end of 2003, the bank had HK$763 billion in assets and earned net profit of HK$8 billion in 2003. Its head office is in the Bank of China Tower in Central.
BOCHK is one of the three banks which issue banknotes for Hong Kong, the biggest member and a founder of the JETCO ATM and payment system, and the designated clearing bank in Hong Kong for transactions involving the renminbi, Mainland China's currency. It is legally separate from its parent, Bank of China (BOC), although they maintain close relations in management and administration and co-operate in several areas including reselling BOC's insurance and securities services. It also shares its Hong Kong headquarters, the Bank of China Tower, with its parent; completed in 1988, this was the first building outside of North America to exceed 1,000 feet (300 m).
The opening of a branch of the Bank of China in Hong Kong in 1917 marked the entry of state-owned Chinese banks into the then-colony's banking sector. Other banks soon followed suit, starting with Yien Yieh Commercial Bank in 1918. By the time the People's Republic of China was established in 1949, there were 15 branches of state owned Chinese banks in Hong Kong, plus branches of nine Mainland-incorporated banks that were public-private joint ventures. In addition, the Chinese government established Po Sang Bank in 1949 and Nanyang Commercial Bank in 1950. Both of these were incorporated in Hong Kong.
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Wikipedia