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Bank of China (BOC)

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An advertisement displaying the interest rate for loans at a branch of the Industrial and Commercial Bank of China in Chengdu, capital of southwestern Sichuan province. Photo: Bloomberg

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline

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Opinion | To restore consumer confidence, China must save the property sector

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Liu Jin resigns as Bank of China’s president for ‘personal reason’

Hong Kong to explore easing visitor rules with 3 Asean countries, John Lee says

City leader says ‘fruitful’ six-day trip to Laos, Cambodia and Vietnam resulted in 55 cooperation agreements and promoted people-to-people exchanges.

John Lee checks out the goods at a Hong Kong firm’s shirt factory in Vietnam. Photo: ISD

Saudi Arabia wealth fund signs US$50 billion deals with 6 Chinese institutions

Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

China’s banks to sell US$60 billion of loss-absorbing bonds to meet PBOC’s norms

ICBC and BOC line up issuance plans for 60 billion yuan worth of total loss-absorbing capacity (TLAC) bonds as Chinese G-SIBs (global systemically important banks) are expected to sell 440 billion yuan of these newly introduced bonds.

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Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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Fitch said the current size of China’s banking system limits the amount of support the central government could give to its biggest lenders. Photo: Reuters

China Construction Bank expects more policy support from Beijing

China’s financial regulators could continue to lower financing costs as a means to shore up confidence, according to CCB chief financial officer Sheng Liurong.

‘Positive signs of recovery’: China’s largest state-owned banks post earnings growth

Results came despite government calls to slash rates and inject liquidity into the country’s slumping property sector.

Major Hong Kong lenders leave interest rates unchanged

HSBC, Standard Chartered and BOCHK – the city’s three note-issuing banks – will keep their lending and deposit rates unchanged, meaning borrowers will have to keep waiting for interest relief.

People walk past a lion sculpture outside HSBC’s headquarters building in Central, Hong Kong. Photo: Eugene Lee

Explainer | What changes are taking place in China’s US$232 trillion repo market?

China’s next big impending change in the financial market is letting more foreign institutional investors into its onshore repo market.

People walk through Exchange Square in Central, Hong Kong in October 2022. Photo AFP

Year of the Dragon: most popular Chinese zodiac sign dominates lai see packets

Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.

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Hong Kong banks hold rates steady as Fed keeps options open on cuts

The banks’ decisions followed the Hong Kong Monetary Authority (HKMA), which left the city’s base rate at 5.75 per cent hours after the Fed kept its target range unchanged in its first policy move of the year.

China’s biggest banks lower deposit rates for third time to boost profitability

China’s largest state-owned banks are lowering their deposit rates for the third time in 2023, in their latest effort to ease the pressure on their net interest margins and to improve profitability.

A Bank of China branch in Beijing’s central business district. The bank is among lenders cutting deposit rates on some of their products by as much as 25 basis points. Photo: EPA-EFE

Bank of China completes cross-border settlement for metals trading using e-CNY

China has been expanding the use of its sovereign digital currency in cross-border businesses, with the Bank of China completing the first cross-border settlement for precious metals trading.

A booth promoting the digital version of China's yuan in Beijing on September 2, 2022. Photo: AP

Chinese banker jailed for life in US$483 million corruption case

‘Significant damage’ inflicted through fraudulent loans, misappropriated repayments and the siphoning of bank funds to other accounts, court says.

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Virtual lender Livi eyes further SME business growth after strong 2023

Livi Bank, a virtual bank backed by the Bank of China (Hong Kong), will continue to expand lending to SMEs as it views the segment as a future growth engine after strong growth this year, CEO David Sun says.

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‘New stage’ of cooperation as 1 of China’s big 4 banks opens Saudi Arabia branch

Bank of China (BOC), one of China’s four biggest state-owned banks, opened its branch in Riyadh on Tuesday amid growing economic activity between China and Saudi Arabia.

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Saudi Central Bank governor Ayman al-Sayari inaugurated the opening ceremony of the Bank of China’s branch in Riyadh. Photo: Twitter@SAMA_GOV

Bank of China, ICBC profit growth tanks as property crisis takes a toll

Both lenders comfortably missed analysts’ estimates for net profit amid a stagnant economic recovery and an escalating property crisis that has dampened creditor confidence, though both reported a slight drop in their non-performing loans ratio.

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Exclusive | ING Bank to increase hiring in Asia amid growing demand for green finance

ING, the largest lender in the Netherlands, plans to escalate its staff recruitment efforts to meet the growing green finance opportunities across the region, according to the Dutch bank’s head of wholesale banking.

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HSBC’s second-quarter profit beats estimates on gains from higher interest rates

HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.

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Pedestrians walk past a HSBC branch on Pedder Street in Central. Photo: Yik Yeung-man

Standard Chartered’s profit tops estimates on gains in Asia, transaction banking

Standard Chartered’s pre-tax profit was US$1.52 billion in the second quarter as it beat a consensus estimate of US$1.37 billion.

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A sign at the Standard Chartered Bank Building in Central. Photo: Edmond So

Mainland tourists can spend digital yuan in Hong Kong courtesy of Bank of China

Bank of China Hong Kong kicked off a new e-CNY trial with 200 merchants on Tuesday, its third in the city to test cross-border payments of China’s sovereign digital currency.

Bank of China pips HSBC in bond deals as Hong Kong IPOs face Sars-era slump

Investment bankers got busier arranging more bond deals in Hong Kong while the IPO market slumped to the lowest level since the severe acute respiratory syndrome or Sars struck the city in 2003.

Yuan ‘new choice’ in Asia-Pacific as world’s biggest trade deal opens doors

Bank of China report says more than 90 per cent of domestic and foreign firms believe ‘strongly’ using the yuan could steady trade within the Asia-Pacific region as Beijing presses on to increase global use for the currency.

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China has been treading cautiously when it comes to further increasing the global use of the yuan, which is yet to be fully convertible. Photo: Reuters

Chinese banks surge at pace not seen since 2015 on valuation, SOE bets

Investors have been snapping up Chinese banking stocks at a pace not seen since the 2015 market bubble in the hopes that lenders’ profit growth will accelerate and government-led drives to boost valuations and improve efficiency at SOEs will underpin sentiment.

A branch of Industrial and Commercial Bank of China in Beijing. Policy tailwind has also created confidence in banking stocks, with the industry’s major players all being state-backed. Photo: Reuters

With China ‘pushing activity levels higher’, Standard Chartered profit rises

Standard Chartered’s pre-tax profit was US$1.81 billion in the first quarter, beating a consensus estimate of US$1.43 billion.

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HSBC, BOCHK push digital payments as border reopening boosts e-commerce

HSBC and Bank of China (Hong Kong), two of the city’s major lenders, have expanded their digital payment services to support cross-border transactions as the reopening of China’s border is expected to boost e-commerce in the post-Covid era.

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Bank of China (BOC)
The Bank of China is one of Hong Kong's biggest banks. It is also one of China's four state-owned commercial banks; the other three are the Industrial and Commercial Bank of China, China Construction Bank, and the Agricultural Bank of China. The Bank of China was founded in 1912 to replace the Government Bank of Imperial China, and is the oldest bank in the country. Its headquarters are located in Hong Kong.
Chairman / President
Ge Haijiao
CEO / Managing Director
SUN Yu
CFO / Finance Director
LIU Chenggang
Industry
Banking, Financial services
Website
boc.cn
Headquarters address
Beijing, China
Stock Code
SEHK: 3988
SSE: 601988
OTC Pink: BACHY
Year founded
1912
last updated:
27 August, 2024
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