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BOC Hong Kong
BOC Hong Kong

Financial services / Banking and Financial Services

At a Glance | Core Facts | Company Due Diligence | Industry Due Diligence | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview
BOC Hong Kong (Holdings) Limited is a subsidiary of Bank of China and one of the largest banks in Hong Kong. The company provides a wide range of financial products and services, including retail and corporate banking, wealth management, and investment banking.
Founded in 1917, BOC Hong Kong has a long history in the Hong Kong banking sector and has grown to become one of the top banks in the city. In addition to its operations in Hong Kong, the company also has a presence in mainland China, Macau, and overseas through its international banking centers.
BOC Hong Kong is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Index. The company has a strong financial position, with total assets of over HK$2.5 trillion as of December 2019.
The company's mission is to be the preferred banking partner for its customers by providing innovative and reliable financial solutions. BOC Hong Kong has a customer-centric approach and aims to build long-term relationships with its clients by understanding their needs and providing personalized services.
In addition to its core banking business, BOC Hong Kong also operates in other financial sectors, including insurance and securities. The company has received several accolades for its services, including the Best Retail Bank in Hong Kong award from The Asian Banker in 2020.
In line with its parent company's commitment to sustainable development, BOC Hong Kong has also implemented various initiatives to promote environmental and social responsibility, such as offering green financing and promoting financial inclusion for underprivileged individuals and small businesses.
Overall, BOC Hong Kong is a reputable and established bank in Hong Kong, with a strong presence in the region and a commitment to providing comprehensive financial solutions to its customers.
What is special about the company?
There are a few things that are special about the BOC Hong Kong company:
1. History and Heritage: BOC Hong Kong has a long and rich history that dates back to 1917, when its predecessor, Kwong On Bank, was established in Hong Kong. It has since been acquired by Bank of China (BOC) in 2001 and has become a subsidiary of this renowned Chinese bank.
2. Bank of China Connection: BOC Hong Kong is a member of the Bank of China Group, one of the largest banking and financial services institutions in the world. This affiliation gives the company access to a vast network of resources and expertise, helping it to stay at the forefront of the industry.
3. Strong Presence in Hong Kong: BOC Hong Kong is one of the three note-issuing banks in Hong Kong, and has a significant market share in the city's banking industry. Its wide network of branches and ATMs, together with its extensive range of products and services, makes it a prominent player in the Hong Kong market.
4. Comprehensive Banking Services: BOC Hong Kong offers a wide range of banking and financial services, including personal banking, corporate banking, wealth management, and investment banking. It also provides a range of digital banking solutions to cater to the changing needs and preferences of its customers.
5. Strong Financial Performance: BOC Hong Kong has a strong financial track record and has consistently delivered stable and sustainable growth. It has received numerous awards and recognition for its financial performance, including being named the "Best Domestic Bank in Hong Kong" by Asian Banker and "Best Bank in Hong Kong" by Global Finance.
6. Commitment to Corporate Social Responsibility: BOC Hong Kong is committed to giving back to the community and has established a solid reputation for its corporate social responsibility initiatives. These include supporting various educational and cultural programs, promoting environmental sustainability, and supporting charitable and humanitarian causes.
What the company's business model?
The BOC Hong Kong company's business model is centered around providing banking and financial services to individuals, corporations, and other institutions in Hong Kong and overseas. This includes traditional banking services such as deposits, loans, and credit cards, as well as investment and wealth management services. The company also offers trade finance, corporate banking, and treasury services. Its business model also includes leveraging technology and digital channels to enhance customer experience and efficiency, and expanding its presence in mainland China through its parent company, Bank of China.
Interesting facts about the company
1. BOC Hong Kong (Holdings) Limited, commonly known as BOC Hong Kong, is the oldest bank in Hong Kong and one of the four licensed note-issuing banks in the city.
2. The bank was founded in 1917 as the Bank of Canton, making it over 100 years old.
3. BOC Hong Kong is a subsidiary of Bank of China (BOC), the fifth largest bank in the world by total assets.
4. BOC Hong Kong has a market capitalization of over HK$300 billion and is listed on the Hong Kong Stock Exchange.
5. As of 2020, BOC Hong Kong has a staff of over 12,000 and operates 329 branches and offices in Hong Kong and overseas, including in Mainland China, Macau, and Southeast Asia.
6. BOC Hong Kong offers a wide range of financial services, including commercial banking, personal banking, investment banking, and wealth management.
7. In addition to its banking operations, BOC Hong Kong also provides insurance services through its subsidiary BOC Group Life Assurance Company Limited.
8. BOC Hong Kong is committed to sustainability and has implemented various initiatives to support sustainable development, including promoting green financing and reducing its environmental footprint.
9. BOC Hong Kong has won numerous awards and recognition for its performance and services, including being named the Best Bank in Hong Kong by Global Finance and Euromoney.
10. As of 2020, BOC Hong Kong has total assets of over HK$2.3 trillion and has maintained a strong financial performance over the years.
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