BOC Hong Kong Holdings Ltd (2388.xhkg)

BOC Hong Kong Holdings Ltd (2388.xhkg)

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BOC Hong Kong Holdings Ltd (2388.xhkg) Profile

BOC Hong Kong Holdings Ltd (2388.xhkg) is a commercial bank headquartered in Beijing, China. BOC is the second-largest commercial bank in Hong Kong, with more than 280 branches across Hong Kong. BOC provides retail customers and corporate customers with a full range of financial products and services via 450 ATMs and other distribution channels in Hong Kong. Boc manages 22,938 branches in China, 13 overseas branches, and 3 overseas representative offices. The company has 110,000 employees (2018) and had a market capitalisation of $151B (USD) as of December 2021. Boc operates in various locations, including the Chinese mainland, Hong Kong, Macau, Taiwan and 31 more countries and regions. The BOC Hong Kong Holdings Ltd stock (2388.xhkg) is listed on the Shanghai Stock Exchange. Boc is the biggest member and a founder of the JETCO ATM and payment system and the designated clearing bank in Hong Kong for transactions involving the Renminbi (RMB / CNH). As of October 2021, Boc announced that it would continue to cooperate with anti-monopoly authorities to curb monopolies, strengthen the payments sector’s regulation, and ask all financial institutions to be licensed. China is willing to take part in international rules-making related to the digitalisation of finance and strengthen coordination with international organisations and other jurisdictions.

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