Company Name: Bank of China Limited ( Bank of China ) ( 中国银行股份有限公司 ( 中国银行 ) )
Ownership Type: State-owned
Industry: Financial and Insurance
Rank (ranked by the total sales revenue in 2004): 12
Headquarters' Location (Zip code): No. 1,Fu Xing Men Nei Ave. , Beijing , China ( 中国北京市复兴门内大街 1 号 (100818) )
Legal Representative and Chairman: Mr. Xiao Gang
Telephone: 86-10-66596688
Fax: 86-10-66593777
Total Revenue (2004): RMB 148.655 billion
Number of Employees(2004): 240,000
Net Profit (2004): RMB 20.9 billion
Registered Capital: RMB 186.390 billion
Total Asset (2004): RMB 3844 billion
Total Issued Shares: NA
Company website: www.bank-of-china.com
Source: Bank of China 2004 Annual Report.
Brief History
Established in 1912, Bank of China is the oldest bank in China . It has been ranked one of the world's top banks in terms of core capital by The Banker. For 90 years, Bank of China has played an important role in promoting China 's economic and social progress through its active involvement in the country's international trade and financial activities. Since 1992 the bank has been awarded "The Best Bank in China " for nine times by Euromoney magazine, the latest being in 2002. Moreover, Bank of China has been included in the Fortune Global 500 for 13 consecutive years.
Bank of China is the first and the only Chinese bank that has presence in all major continents. At the present the bank offers financial services through its global network of over 560 overseas offices in 25 countries and regions. In Hong Kong and Macao , Bank of China is one of the local note-issuing banks.
To consolidate its competitive edge in the market, Bank of China has, from early 2000, taken a series of reform initiatives around the concept of building good corporate governance. In 2001, Bank of China successfully restructured its operations in Hong Kong by merging 10 of its member banks into Bank of China (Hong Kong) Limited, a locally registered bank. In July 2002, Bank of China ( Hong Kong ) Limited was successfully listed on the Hong Kong Stock Exchange.
Major share holders
China SAFE Investments Limited is the sole shareholder of Bank of China Limited. China SAFE Investments Limited is a wholly state owned investment company, organized under the Company Law of the PRC with the approval by the State Council.
China SAFE Investments Ltd.'s activities are limited to funding and managing its equity investments as authorized by the State Council, and it will not engage in any other commercial activities. Bank of China intends to diversify its shareholder base in the future, through initiatives which may include, for example, attracting investment from strategic investors.
Business overview
Traditional commercial banking constitutes the majority of Bank of China's business, which is composed of corporate banking, retail banking and banking with financial institutions. Corporate banking is built upon the backbone of the bank's core credit products, to meet the needs of its corporate clients and provide them with individual and innovative financial services. Retail banking serves the financial needs of the bank's individual customers, focusing on providing them with integrated products based around the bank's Great Wall Card. Financial institutions banking serves banks, securities firms and insurance companies worldwide with such services as funds transfer, clearing, inter-bank lending and custody.
Top management
Chen Muhua: Honorary Chairperson of the Board. Ms. Chen has been the Honorary Chairperson of the Board of Bank of China Limited since August 2004. Ms. Chen was formerly Vice Chairwoman of the Standing Committee of National People's Congress. Ms. Chen was born in June1921.
Xiao Gang: Chairman. Mr. Xiao was born in August 1958 and graduated from Hunan Institute of Finance and Economics of China in 1981 and was awarded a master's degree by China Renmin University in 1996. Mr. Xiao has been the Chairman of Bank of China Limited since August 2004 after serving as Chairman and President of Bank of China since March 2003. Mr. Xiao was most previously Deputy Governor of the People's Bank of China (PBOC) and has also served as the Assistant Governor from October 1996. During this period, he was also Director of the Fund Planning Department and the Monetary Policy Department. From 1989 to October 1996, Mr. Xiao held various other positions in the PBOC, including Director of the Policy Research Office, Director of the China Foreign Exchange Trading Center , and Director General of the Fund and Planning Department of the PBOC.
Li Lihui: Vice Chairman and President. Mr. Li was born in 1952 and earned a Bachelor's degree in Finance from the Economics Department at Xiamen University of China in 1977. He also received a Doctorate in Finance and PhD degree in Economics from the Guanghua School of Management at Peking University of China. Mr. Li has been Vice Chairman and President of Bank of China Limited Since August 2004, after serving as Deputy Governor of Hainan Province from September 2002 to August 2004. He was formerly a Vice President of Industrial and Commercial Bank of China (ICBC) from July 1994 to August 2002.
Peter Cooke: Independent Director. Mr. Cooke, a British citizen was born in February 1932 and got his MA degree in Modern History from Metron College , Oxford in 1955. Mr. Cooke has been an Independent Director of Bank of China Limited since December 2004. Mr. Cooke retired from the Bank of England in 1988 after a 33-year-career, most recently as Associate Director and Head of Banking Supervision. From 1977 to 1978, he was Chairman of Basel Committee on Banking Regulation and Supervisory Practice at the Bank for International Settlements, which formulated the first Basel Capital Accord.
Hua Qingshan: Executive Director & Vice President.
Li Zaohang: Executive Director & Vice President.
Suzanne Labarge: Independent Director. |
