Bank of Communications

Founded in 1908, Bank of Communications Co., Ltd. is one of the banks with the longest history in China and was once one of the country's note-issuing banks. It resumed business operations after its re-establishment in 1987 and is the first nationwide state-owned joint-stock commercial bank in China, with its head office in Shanghai. The Bank was listed on the Hong Kong Stock Exchange in June 2005 and on the Shanghai Stock Exchange in May 2007. In 2015 it ranked No. 17 among the global top 1,000 banks by Tier 1 capital in The Banker and No. 190 in the Fortune 500 by operating income. The Bank has 230 domestic branches and 3,141 banking outlets in 235 prefecture-level cities or above and 171 county-level cities nationwide. It has also set up 15 overseas institutions, including branches in Hong Kong, New York, San Francisco, Tokyo, Singapore, Seoul, Frankfurt, Macau, Ho Chi Minh City, Sydney, Brisbane and Taipei, subsidiaries in the UK and Luxembourg, and a representative office in Toronto. As one of the major financial services providers in China, its business scope comprises commercial banking, securities services, trust services, financial leasing, fund management, insurance and offshore financial services. The Bank's development strategy is to become "a first class listed comprehensive banking group focusing on international expansion and specialising in wealth management".