Bank of Communications Named as Global Systematically Important Bank or Too Big to Fail Bank, 5 China Banks on the Global List Including Agricultural Bank of China, China Construction Bank, Bank of China and Industrial & Commercial Bank of China
30th November 2023 | Hong Kong
Bank of Communications (BoCom) has been named as a Global Systematically Important Bank (Too Big to Fail Bank), with the global list now with 5 China banks. The 5 China banks are Agricultural Bank of China, China Construction Bank, Bank of China, Industrial & Commercial Bank of China and Bank of Communications. Bank of Communications has a current market capitalization of $53 billion (30/11/23: HKD 410 billion, CNY 376 billion).
“ Bank of Communications Named as Global Systematically Important Bank or Too Big to Fail Bank, 5 China Banks on the Global List Including Agricultural Bank of China, China Construction Bank, Bank of China and Industrial & Commercial Bank of China “
Bank of Communications Named as Global Systematically Important Bank or Too Big to Fail Bank
Bank of Communications Co., Ltd
Founded in 1908, Bank of Communications Co., Ltd. (“BoCom” or the “Bank”) is one of the banks with the longest history and one of the first note-issuing banks in China. On 1 April 1987, BoCom reopened after reorganization and the head office was located in Shanghai. BoCom was listed on the Hong Kong Stock Exchange in June 2005 and the Shanghai Stock Exchange in May 2007. In 2020, BoCom was named a “Fortune Global 500” company for its 12th consecutive year, ranking at 162 in terms of operating income, and its fourth year of ranking 11th in the “Top 1000 World Banks” in terms of Tier 1 Capital rated by “The Banker”. As a large banking group with an esteemed long history, distinctive strategy planning, 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 its best to provide the best services to customers and reward its shareholders, employees and society.
Bank of Communications (Hong Kong) Limited
Established in January 2018, Bank of Communications (Hong Kong) Limited (“BoCom (HK) ”) is a wholly owned subsidiary of BoCom. BoCom (HK) has touchpoints all over Hong Kong, offering both corporate and personal banking customers a comprehensive corporate financial and wealth management services through its 44 outlets, among which are 37 BComBEST Services Centres, a private banking centre and 7 Business Services Centres in Hong Kong. BoCom (HK) has been awarded a “stable” rating outlook by Fitch, Moody’s and Standard & Poor’s, which is the same international credit rating as BoCom. BoCom and its subsidiaries (the “Group”) have profound experience in offering financial services and a strong network in both the Mainland and Hong Kong. Along with BoCom (HK) and the Group’s subsidiaries such as Bank of Communications Hong Kong Branch, BoCom International Holdings Company Limited, China BoCom Insurance Co., Ltd. and Bank of Communications Trustee Limited, the Group continues to extend professional and comprehensive financial products and services and wealth management services covering retail and private banking, corporate banking, capital markets, trustee, and more through an integrated operation.
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