Bank of Communications Hong Kong Branch
Encyclopedia
The Bank of Communications Hong Kong Branch (Traditional Chinese: 交通銀行 香港分行) is a licensed bank in Hong Kong
. It was opened in 1934.
The Bank's Hong Kong Branch was consolated as part of "Joint Office of Joint Public-Private Banks" in 1952, and later part of the Bank of China Group
, until April 14, 1998, when the Bank's head office resumed its management.
The Bank of Communications Hong Kong Branch established its roots in Hong Kong
and has served the territory well. It is now a reliable, financially strong and reputable commercial bank
with securities, insurance and trustee businesses. On 14 April 1998, the Hong Kong Branch seceded from the Bank of China Group, and the Bank of Communications
Head Office resumed its full management. In December 1998, the Bank purchased the new Bank of Communications Tower and has since commenced centralized operations in Hong Kong. Bank of Communications Trustee Limited was also approved by the Mandatory Provident Fund Schemes Authority as one of the first 21 authorized MPF trustees. In November 1999, it was selected by the financial consultants of the HKSAR government, amongst HSBC
, Bank of China (Hong Kong)
, Standard Chartered Bank
, Hang Seng Bank
, as one of the 5 receiving banks of the Tracker Fund of Hong Kong, and the Bank’s social reputation has been raised to a higher level. On 23 June 2005, Bank of Communications was listed in Hong Kong, the first China based commercial bank of its kind to get listed outside mainland China.
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
. It was opened in 1934.
The Bank's Hong Kong Branch was consolated as part of "Joint Office of Joint Public-Private Banks" in 1952, and later part of the Bank of China Group
Bank of China Group
Bank of China Group was the brand used to denote 13 banks that were almost entirely owned by the Chinese government that operated in Hong Kong, until their merger in 2001 to form Bank of China . The exception was the Hong Kong branch of the Bank of Communications, which left BOCG in 1998...
, until April 14, 1998, when the Bank's head office resumed its management.
The Bank of Communications Hong Kong Branch established its roots in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
and has served the territory well. It is now a reliable, financially strong and reputable commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
with securities, insurance and trustee businesses. On 14 April 1998, the Hong Kong Branch seceded from the Bank of China Group, and the Bank of Communications
Bank of Communications
Bank of Communications Limited , founded in 1908, is one of the largest banks in China.-Before 1949:The Bank of Communications was founded in 1908 and emerged as one of the first few major national and note-issuing banks in the early days of the Republic of China...
Head Office resumed its full management. In December 1998, the Bank purchased the new Bank of Communications Tower and has since commenced centralized operations in Hong Kong. Bank of Communications Trustee Limited was also approved by the Mandatory Provident Fund Schemes Authority as one of the first 21 authorized MPF trustees. In November 1999, it was selected by the financial consultants of the HKSAR government, amongst HSBC
Hongkong and Shanghai Banking Corporation
The Hongkong and Shanghai Banking Corporation Limited is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc...
, Bank of China (Hong Kong)
Bank of China (Hong Kong)
Bank of China Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed...
, Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
, Hang Seng Bank
Hang Seng Bank
Hang Seng Bank Limited is the second largest bank in Hong Kong. It is a listed company but it is majority owned by the HSBC Group via The Hongkong and Shanghai Banking Corporation. Hang Seng is also one of the constituent shares of the Hang Seng Index...
, as one of the 5 receiving banks of the Tracker Fund of Hong Kong, and the Bank’s social reputation has been raised to a higher level. On 23 June 2005, Bank of Communications was listed in Hong Kong, the first China based commercial bank of its kind to get listed outside mainland China.