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|Name(Chinese)||中国银行股份有限公司浙江省分行||Name(English)||Bank-Of-China ZheJiang Branch|
|Region||Hangzhou||Address||No.312, Fengqi Rd., Xiacheng District, Hangzhou, Zhejiang|
|Nature||Solely state-owned||Type||Vice President Company|
Bank of China(BOC), China's oldest financial institution, was founded in 1912 . As the most widely distributed network of international institutions inChina, the bank achieves great advantages in international financial business.
As the first bank inChinato set agencies and branches in six continents, namely, Asia, Europe, ,Australia, Africa ,South America, BOC has 12,090 branches at home and 581 overseas branches establishing a global financing service network. Moreover, the bank is a note-issuing bank in Hong Kong andMacau.
The bank is voted as one of the most well capitalized bank worldwide by an English magazine The Banker and one of the Global Fortune Top 500 enterprises for 13 years in a row. In 2002, The bank was ranked 'Best Bank ofChina' nine times by Euromoney Magazine and “Best Domestic Commercial Bank ofChina” by The Asset. What’ more, THE BANK was voted as “China’s Best Trade Finance Banks 2012 “and “2002 Best Foreign Exchange Bank-China” by Global Finance.
By the end of 2002 , the bank's total assets amounted to RMB 3593.9 billion and the owners' equity reached RMB 219.7 billion. The total pre-tax profits of domestic and foreign institutions in BOC reached RMB13.792 billion, retaining the No. 1 rank among all banks in terms of profitability.
The bank achieves great advantages in international financial business inChinaand has great strength of international trade finance, international trade settlement, foreign exchange business and international credit card. The business volume in above four fields ranks 1st inChina.
To adapt to the development of world economy and finance and the quickening of technological reform, the bank formulates development goals to promote the construction of a good corporate governance system to face the fiercer competition actively: by giving full play of competitive advantage, The bank builds up a scientific decision-making system, sets up a prudent accounting and financial system, establishes an effective incentive and restraint mechanism and a market-oriented and standardized human resources management system. Besides, it has made a construction of the board of directors in six aspects according with rules of a good corporate governance system. The bank will build itself into a fully functioned and well-planned national bank of the unique comparative advantage. Through the merger and acquisition by taking capital as bond in a longer time, the bank can become one of the top banks in the World.