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Finance

Bank of China Ltd.

Company Background

Bank of China was founded in 1912 as the central bank of the Republic of China by order of Sun Yat-sen, the leader of the 1911 revolution. Since the People's Republic of China was established in 1949, it has served as the sole bank that specializes in foreign exchange transactions. Among four major state-owned banks in China, Bank of China has the largest presence in the country's international banking operations.

The bank is the forefront of the government's efforts to internationalize its currency, the yuan. In Hong Kong, Frankfurt and other financial centers across the globe, the bank functions as clearing house of the currency. The bank is also the issuer of overseas yuan-denominated bonds.

In 2006, Bank of China was listed on Hong Kong Stock Exchange in June and on Shanghai Stock Exchange in July.

Tian Guoli has served as Chairman of the bank since May 2013. His prior positions include vice chairman at Citic Group and assistant executive president at China Construction Bank. In September 2014, Tian announced a program to convert the bank's 58,000 temporary workers to permanent employees. It was a groundbreaking move in the country, where temp workers are becoming major source of manpower.

Business Summary

Bank of China Ltd. engages in the provision of banking and financial services. It operates through the following business segments: Corporate Banking, Personal Banking, Treasury Operations, Investment Banking, Insurance, and Others. The Corporate Banking segment offers services to corporate customers, government authorities, and financial institutions such as current accounts, deposits, overdrafts, loans, custody, trade related products and other credit facilities, foreign currency, and derivative products. The Personal Banking segment provides services to retail customers such as current accounts, savings, deposits, investment savings products, credit and debit cards, consumer loans, and mortgages. The Treasury Operations segment deals in foreign exchange transactions, customer-based interest rate and foreign exchange derivative transactions, money market transactions, proprietary trading, and asset and liability management. The Investment Banking segment includes debt and equity underwriting and financial advisory, sales and trading of securities, stock brokerage, investment research and asset management services, and private equity investment services. The Insurance segment specializes in the underwriting of general and life insurance business and insurance agency services. The Others segment comprises of investment holding and miscellaneous activities. The company was founded on February 5, 1912 and is headquartered in Beijing, China.

Financial Highlights

Dec 2019 HKDUSD
Revenue1,044.10B133,258.22M
Gross Profit----
Operating income280,833.69M35,842.57M
Income before tax283,011.94M36,120.58M
Net income212,501.61M27,121.40M
EBITDA----
Diluted EPS0.690.08
Dividends Per Share0.200.02
Total Assets25,470.13B3,268.83B
Total liabilities23,259.00B2,985.06B
Total equity2,071.30B265,831.28M
Operating cash flow318,455.90M40,644.26M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 936,935.88M 839,253.98M 882,637.28M 988,981.09M 1,044.10B
Gross Profit -- -- -- -- --
Operating income 280,478.70M 224,655.33M 250,960.13M 267,666.44M 280,833.69M
Income before tax 282,759.40M 258,822.22M 255,686.64M 269,502.34M 283,011.94M
Net income 210,734.00M 192,295.98M 198,800.25M 213,303.56M 212,501.61M
EBITDA -- -- -- -- --
Diluted EPS 0.69 0.62 0.64 0.69 0.69
Dividends Per Share 0.20 0.19 0.21 0.21 0.20
Total Assets 20,069.51B 20,247.65B 23,369.57B 24,252.28B 25,470.13B
Total liabilities 18,449.20B 18,588.59B 21,476.86B 22,284.72B 23,259.00B
Total equity 1,557.46B 1,574.93B 1,795.88B 1,839.37B 2,071.30B
Operating cash flow 397,841.92M 11,015.84M 449,698.12M 245,674.68M 318,455.90M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 120,854.82M 108,117.05M 113,262.93M 126,185.05M 133,258.22M
Gross Profit -- -- -- -- --
Operating income 36,178.78M 28,941.26M 32,204.03M 34,151.82M 35,842.57M
Income before tax 36,472.97M 33,342.82M 32,810.55M 34,386.06M 36,120.58M
Net income 27,182.45M 24,772.56M 25,510.70M 27,215.60M 27,121.40M
EBITDA -- -- -- -- --
Diluted EPS 0.08 0.08 0.08 0.08 0.08
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 2,589.56B 2,611.53B 2,989.46B 3,097.61B 3,268.83B
Total liabilities 2,380.49B 2,397.55B 2,747.35B 2,846.30B 2,985.06B
Total equity 200,958.77M 203,134.32M 229,732.18M 234,933.08M 265,831.28M
Operating cash flow 51,317.40M 1,419.11M 57,706.74M 31,345.87M 40,644.26M

Valuation Measures

Dec 2019
PER4.27
ROA0.85%
ROE10.86%
Operating margin26.89%
Profit margin20.35%

Key executives

  • Vice Chairman & President: Jiang Wang
  • Chief Information Officer: Liu Qiuwan
  • Executive Vice President: Guoyu Zheng
  • Executive Vice President: Yu Sun
  • Executive Director & Executive Vice President: Jing Zhen Lin

Shareholders

  • National Council for Social Security Fund (7.9%)
  • The Vanguard Group, Inc. (3.2%)
  • BlackRock Fund Advisors (2.0%)
  • Hang Seng Investment Management Ltd. (1.7%)
  • Norges Bank Investment Management (1.0%)
  • State Street Global Advisors Asia Ltd. (0.9%)
  • Dimensional Fund Advisors LP (0.9%)
  • Mitsubishi UFJ Financial Group, Inc. (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.6%)
  • BlackRock Investment Management (UK) Ltd. (0.5%)

Contact Details

  • Website:http://bochk.com
  • Address: No. 1 Fuxingmen Nei Dajie, Xicheng District, Beijing, 100818, China
  • Phone: +86.10.6659.6688

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Competitors

  • Kasikornbank Public Co. Ltd.
  • Fly Leasing Limited Sponsored ADR
Last Updated on 28 Oct, 2020

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