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Finance

Bank of China Ltd.

  • 3.30 HKD
  • +0.01
  • +0.30%
  • China
    Dec 18, 2018
  • Ticker
    HKG(3988)
  • Prev. close
    3.29
  • Market cap (HKD)
    1,133.19B
  • Market cap (USD)
    144,897.93M
  • Shares
    294,387.78M

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 2017 HKDUSD
Revenue875,925.16M112,401.60M
Gross Profit----
Operating income251,861.85M32,319.74M
Income before tax255,686.64M32,810.55M
Net income198,800.25M25,510.70M
EBITDA----
Diluted EPS0.640.08
Dividends Per Share0.210.02
Total Assets23,369.57B2,989.46B
Total liabilities21,476.86B2,747.35B
Total equity1,795.88B229,732.18M
Operating cash flow608,470.11M78,080.89M
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 801,903.90M 933,180.74M 945,694.82M 876,484.47M 875,925.16M
Gross Profit -- -- -- -- --
Operating income 265,787.23M 288,960.88M 282,560.81M 256,612.74M 251,861.85M
Income before tax 267,086.80M 289,661.89M 282,759.40M 258,822.22M 255,686.64M
Net income 197,977.45M 213,440.30M 210,734.00M 192,295.98M 198,800.25M
EBITDA -- -- -- -- --
Diluted EPS 0.68 0.72 0.69 0.63 0.64
Dividends Per Share 0.24 0.23 0.20 0.19 0.21
Total Assets 17,770.26B 19,064.02B 20,069.82B 20,247.65B 23,369.57B
Total liabilities 16,538.81B 17,584.76B 18,449.51B 18,588.59B 21,476.86B
Total equity 1,183.33B 1,426.04B 1,557.46B 1,574.93B 1,795.88B
Operating cash flow 362,559.76M 261,819.44M 952,995.79M 357,373.65M 608,470.11M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 103,382.86M 120,337.71M 121,984.63M 112,913.27M 112,401.60M
Gross Profit -- -- -- -- --
Operating income 34,265.75M 37,262.76M 36,447.35M 33,058.18M 32,319.74M
Income before tax 34,433.30M 37,353.16M 36,472.97M 33,342.82M 32,810.55M
Net income 25,523.60M 27,524.05M 27,182.45M 24,772.56M 25,510.70M
EBITDA -- -- -- -- --
Diluted EPS 0.08 0.09 0.08 0.08 0.08
Dividends Per Share 0.03 0.03 0.02 0.02 0.02
Total Assets 2,291.82B 2,458.33B 2,589.60B 2,611.53B 2,989.46B
Total liabilities 2,133.00B 2,267.58B 2,380.53B 2,397.55B 2,747.35B
Total equity 152,615.02M 183,890.88M 200,958.77M 203,134.32M 229,732.18M
Operating cash flow 46,741.84M 33,762.75M 122,926.38M 46,038.72M 78,080.89M

Valuation Measures

Dec 2017
PER5.94
ROA0.91%
ROE11.79%
Operating margin28.75%
Profit margin22.69%

Key executives

  • Executive Vice President: Liu Qiang
  • Executive Vice President: Jing Zhen Lin
  • General Manager-Global Trade Services: Mang Li
  • Deputy General Manager-Credit Management: Lin Zhu
  • General Manager-Financial Management Department: Cheng Gang Liu

Shareholders

  • National Council for Social Security Fund (7.9%)
  • The Vanguard Group, Inc. (3.1%)
  • Capital Research & Management Co. (Global Investors) (3.1%)
  • BlackRock Fund Advisors (2.3%)
  • Hang Seng Investment Management Ltd. (1.6%)
  • Capital Research & Management Co. (World Investors) (1.3%)
  • Norges Bank Investment Management (0.9%)
  • State Street Global Advisors Asia Ltd. (0.9%)
  • JF Asset Management Ltd. (0.8%)
  • Eastspring Investments (Singapore) Ltd. (0.7%)

Contact Details

  • Website:http://bankofchina.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.
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  • Noah Holdings Ltd. Sponsored ADR Class A
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Last Updated on 18 Dec, 2018

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