Founded in 1908, Bank of Communications (BOCOM) is one of four oldest banks in China and one of the early note-issuing banks of China. To operate in line with economic reforms and development, BOCOM was restructured on July 24, 1986 with approval from the State Council and began operation anew on April 1, 1987, thus becoming China’s first state-owned shareholding commercial bank. Its head office was in Shanghai.
As China’s first national shareholding commercial bank, BOCOM has been playing two roles as the successor to a century-old national banking brand and the pioneer of China’s banking reform since its re-establishment. BOCOM has achieved six “firsts” in China’s banking reform and development: the first to implement shareholding system for its capital and mode of ownership form; the first to command an organizational structure based on market rules and cost/return rules; the first to introduce competition into the banking industry in China; the first to introduce assets/liability ratio management and apply it for regulating business operations and risk; the first to build new bank/enterprise relationships based on two-way selection; and the first commercial bank to integrate banking, insurance and securities businesses. BOCOM’s experience in reform and development paves the way for the development of shareholding commercial banks in China and exemplifies the banking reform of China.
As of December 31, 2008, the Bank's total asset was RMB 2.68 trillion, and its CAR was 13.47%. Its ROAA and ROAE were 1.19% and 20.10% respectively, and impaired loan ratio was 1.92%. The Bank ranked No. 66 in the world in terms of total asset, and No. 54 in terms of tier-1 capital.
Diversified Business
Corporate Finance Business
BOCOM provides diversified and comprehensive professional services in such fields as corporate banking, personal banking, international banking and fee-based business. BOCOM has developed a range of branded products well-represented by “FX Easy”, “Man Jin Bao”, “Win-To Fortune”, “Pacific Card”, “Nationwide Through”, “Zhan Ye Tong” and “Fund Supermarket”, taking up a large market share in the industry.
Personal Finance Business
Household Financing
Fx Structured Deposit
RMB Structured Deposit
Personal Financing
Bank Card Business
The dual-currency credit card developed jointly with HSBC, known as “the Global Card for the Chinese”, has 7.77 million cards in force as of September 30, 2008.
Internet Bank Business
BOCOM has a nationwide and internationally oriented business network, with branches and outlets in developed regions, central cities and international financial centers.
Contact Info.
Post Code: 200120
Hot Line: 021-58766688
Fax: 021-58798398
E-mail: Investor@bankcomm.com
Address: No.188 Yincheng Zhong Road, Shanghai
Contact Info of Major Subsidiaries:
Beijing:
Post Code: 100032
Fax: 010-88086008
Address: No.33, Finance Street, Xicheng District, Beijing
Shenzhen:
Postcode: 518031
Tel: 95559
Address: Huaneng Building, No.2066, Shennan Zhong Road, Shenzhen, Guangdong