Bank of China

Bank of China Limited (BOC ) is a financial company from China. The company's headquarters is located in Beijing. BOC is one of the four major state-owned banks in China.

The Bank is one of the 28 major banks, which by the Financial Stability Board (FSB) as " systemically important financial institution" ( systemically important financial institution) were classified. Therefore it is subject to special monitoring and stringent requirements on the level of equity.

History

The company was founded in 1912 to the Ta Ching Government Bank to replace, the oldest bank in China.

From its founding in 1912 to 1942 there were bills out in the banking group of the "Big Four", for which further included the finance companies Central Bank of China, Agricultural Bank of China and Bank of Communications. Although it initially served as a central bank for the government of China, it was replaced in 1928 by the Central Bank of China. Over time, BOC became a commercial bank.

According to the Chinese civil war, which ended in 1949, the Bank of China was divided into two areas. Part of the bank was based in Taiwan under the Kuomintang government. 1971 this part was privatized in Taiwan and received the bank name International Commercial Bank of China. Meanwhile merged in turn with the Taiwanese branch of the Chinese Bank of Communications (where " bank of Transportation " ) to Mega International Commercial Bank.

The other part of BOC in China became the second largest bank loans in China nationwide and the eighth largest bank in market capitalization worldwide.

The Bank maintained a long time to 100 percent owned by the Chinese government and was controlled by Central Huijin Investment and National Council for Social Security Fund (SSF ).

In August 2005, a strategic partnership with the Royal Bank of Scotland ( RBS) has been agreed. Under this agreement, the RBS bought 10% of the BOC for 3.1 billion U.S. dollars.

Then in June 2006, an initial public offering of a stake in BOC, which is the equivalent of around 25 percent. The initial public offering of BOC was the largest IPO since 2000 and to date the world's fourth largest in the stock market history.

Ownership structure

As of June 7, 2006:

  • Central Huijin Investment: 69 265 %
  • RBS China: 8.467 %
  • AFH Pte. Ltd.. (a subsidiary of Temasek ): 4.765 %
  • SSF: 4.576 %
  • UBS AG: 1.366 %
  • ADB: 0.205 %
  • Other investors who received shares in the first IPO: 11,356 %

Subsidiaries and Investments

Subsidiary of Bank of China is the banking company Bank of China (Hong Kong) located with its headquarters in Hong Kong.

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