Top 10 Banks in the World 2017

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5. Bank of China

Bank of China is one the big four banks of China, with the Chinese government owning close to 70% of the bank.


Image: Wikimedia

It was established in 1912, and up until 1949 it served as China’s Central Bank, specialized International Trade Bank and International Bank. In 1949, owing to its vast experience in international trade, Bank of China became wholly responsible for managing China’s foreign exchange operations.

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In the same year, it started offering services such as overseas fund transfer, international trade settlement and other non-trade foreign exchange services.

The bank became a wholly state owned commercial bank in 1994, and was incorporated in the year 2004. Bank of China went public when it went for an IPO in 2006. It was the first Chinese bank to achieve dual market listing when it was listed in both the Shanghai Stock Exchange and Hong Kong Stock Exchange in the same year. 2014 witnessed the bank being designated a Global Systemically Important Bank, the only one from emerging markets for the 4th year in a row. Bank of China has an extensive network of branches, which serves over 41 different countries. Some noteworthy subsidiaries of the bank include BOC International Holdings Limited, Bank of China Group Insurance Company Limited, Bank of China Insurance Company Limited, Bank of China Investment Management etc. The major competitors of the firm are China Construction Bank Corporation, Agricultural Bank of China and ICBC Ltd. The bank is headquartered in Beijing and the current CEO of the company is Chen Siqing.

Revenue (in Billion of USD): 70.42

Net Profit (in Billion of USD): 26.69

Assets (in Billion of USD): 2631.53



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