Bank Elos, which is a joint-stock commercial bank, is known throughout the world for its wide network of branches. This bank is a subsidiary bank of the Bank of China Limited Corporation.
Today, BOC Limited has branches all over the world, and the list of employees is in the thousands. In the Russian market, the bank provides such services as: accepting deposits from the public, opening and maintaining an account, money transfers, including transfers in yuan, settlement and cash operations. In addition to the above, JSCB Bank of China (ELOS) accepts deposits on deposit from enterprises, performs any type of operations with Chinese yuan on the world market, and collects funds. Financial institutions can transfer funds to China directly.
The Bank cooperates with both residents of the Russian Federation and non-residents of the Russian Federation. As the largest universal bank, the Bank of China (ELOS) takes root every year more firmly in the financial market of the Russian Federation, opening more and more branches. A team of highly qualified professionals plays an important role in the development of the Bank of China as a banking magnate.
As of February 2020, the Bank of China (Elos) ranks 105th in the rating of Russian banks in terms of assets. according to the Central Bank.
Bank of China is the oldest banking organization in China. The headquarters is located in Beijing.
How and when did the credit organization in question come into existence?
The year of formation of the credit corporation is 1912. It was then that the Ta-Ching Government Bank organization was transformed. Until 1942, the financial corporation was engaged in the issue of money along with other banking organizations in China. The central banking organizations at that time were considered the Central Bank of China and the People's Bank of China.
Since 1949, the financial structure has changed its specialization - now it has become engaged in the fulfillment of the interests of the Chinese government. The banking organization developed its own business, opened branches in various states, that is, around the world. The institution we are considering is part of the TOP-20 of the world's largest banks, with an impressive foreign network of divisions - 500 offices, in more than 20 states.
Who runs and owns the bank
In the summer of 2006, the banking institution held an IPO. The Hong Kong Stock Exchange helped carry out the procedure. Earnings amounted to approximately 8.5 billion euros. The main block of bank shares is owned by the Chinese government. The largest shareholders of Bank of China are the Singaporean special investment corporation Temasek, the Swiss UBS and the UK corporation.
What is the activity of the bank
Today, the Bank of China is a commercial banking structure, which is in the TOP-5 of the largest state-owned credit institutions in China. . In terms of assets, it ranks second, just behind Industrial & Commercial Bank of China. Another credit institution is in the top 20 largest banking institutions in the world. It has over 13,000 offices in China, more than five hundred representative offices in 20 other countries.
As a rule, a credit institution is engaged in lending to corporate and retail types. In addition, the institution provides the following services:
- investment plan banking;
- insurance;
- serves plastic cards issued to customers.
The official website of the Bank of China also informs about other services and opportunities offered to the clients of this institution. We have listed only the most important ones.
The institution we are considering has its own personal capital - it is approximately $ 42 billion. According to the results of the first 6 months of 2007, the credit institution improved the part of personal income by 51%, up to 30 billion yuan (approximately 3 billion euros).
Hong Kong Credit Institution
The Bank of China is the most famous banking structure in Hong Kong, one of the three banking institutions that issues local dollars. The bank has over three hundred branches in Hong Kong and several more in China itself. The structure also controls a significant ATM network in the cities of Hong Kong and Macau. Control over the activities of the well-known tourist organization BOC Travel Services is also carried out. The location of the company's headquarters is a skyscraper, Central County. The credit institution we are considering was created in 2001 - all divisions and subsidiary credit organizations were merged.
bank headquarters building
The first branch was opened in Hong Kong in 1917. A year later, the situation repeated itself with other institutions. By the time the PRC was formed, there were already 15 offices of Chinese state banking organizations in Hong Kong. Also appeared 9 divisions of private or mixed credit institutions from mainland China.
In 1952, 9 combined public-private credit organizations merged into one institution - the Bank of China. After 2 years, after the liquidation of the parent organizations, the Hong Kong offices of various financial institutions also closed. After 1958, the Bank of China regional branch for Hong Kong and Macau began to manage other branches.
A little later, the credit institution began to control the work of three more banking institutions in Hong Kong and did this until 1998.
In the 1970s, the Bank of China was taken over by a corporation, and in 1975, private capital was completely reduced in all subordinate mixed credit institutions. After 10 years, 14 subsidiaries carried out rebranding and became part of the banking structure. In 1999, the banking structure we are considering began to restructure its activities: they bought out all minority stakes in subsidiaries. All Chinese transactions were included in Po Sang Bank. The latter was called Bank of China (Hong Kong) Limited.
All controlled structures were merged back in 2001 (the main Bank of China became the owner of over 65% of the shares of the Hong Kong official structure). Since 2002, the bank we are considering has been cooperating with the Hong Kong stock market - it is there that all the main operations are carried out. Nine years ago, the Bank of China had a workforce of 14,000, a real value of $34.73 billion, and a revenue of about $5 million.
"Bank of China" in Moscow
Since 1993, the financial organization we are considering in the capital has a subsidiary of JSCB "BANK OF CHINA (ELOS)". This is one of the first such banking institutions opened by a foreign representative on Russian territory.
Address: Moscow, st. Prospekt Mira, 72
Thus, from our article you have learned the history of the emergence and formation of the "Bank of China" in the world. We also told you about what this bank does and what reorganizations it has undergone in different years. We hope that you have discovered something new and expanded your knowledge about this credit institution.
Registration number: 2309
Date of registration by the Bank of Russia: 23.04.1993
BIC: 044525213
Main state registration number: 1027739857551 (23.12.2002)
Authorized capital: RUB 3,435,000,000
License (date of issue/last replacement) Banks with a basic license are banks that have a license with the word “basic” in the name. All other operating banks are banks with a universal license:
General license for banking operations (02.09.2015)
Licenses
Participation in the deposit insurance system: Yes
Bank of China is a division of a large Chinese bank that has received a license from the Central Bank of Russia. The founding date is 1993. The purpose of the creation is to simplify transactions and maintain trade and economic relations between the two states. Wholly owned by China. It is part of the Bank of China Limited holding. The network consists of 800 branches located in most developed countries. The main owner is the Chinese government. It holds 67.77% of the shares. The rest are freely available.
Services and main directions of work of Bank of China
Bank of China became one of the first foreign banks to open a branch in our country. During his work, he proved his promise and reliability. The financial institution offers standard services to ordinary people and companies. Transactions are carried out in rubles, yuan and other currencies.
Service users can choose:
- accounts and tariffs for their maintenance;
- direct transfers to China;
- guarantees and other services.
Specificity
Features of Bank of China:
- located in the capital of Russia;
- branches are located in the Khabarovsk Territory and Vladivostok;
- 45% of the bank's liabilities are represented by money from foreign financial institutions.
Bank of China's customer base is small, with turnovers on customer accounts amounting to 45 billion rubles. Due to the peculiarities of the client base, a significant share falls on the turnover on the accounts of clients who are not residents of Russia. There are no branded ATMs.
Registration number: 2309
Date of registration by the Bank of Russia: 23.04.1993
BIC: 044525213
Main state registration number: 1027739857551 (23.12.2002)
Authorized capital: RUB 3,435,000,000
License (date of issue/last replacement) Banks with a basic license are banks that have a license with the word “basic” in the name. All other operating banks are banks with a universal license:
General license for banking operations (02.09.2015)
Licenses
Participation in the deposit insurance system: Yes
Bank of China (Bank of China) in Moscow offers a wide range of services. On our website you can find out where to open a deposit, apply for a credit card. Separately, there is information on loans and addresses of Bank of China branches in Moscow.
For those who have not yet decided on a bank, we suggest comparing the rating with other popular institutions in terms of assets, loans, assets and deposits. Using the service, you can find out where the nearest Bank of China ATMs are located in Moscow. Users can also choose a branch that offers a range of services for servicing legal entities.
Joint Stock Commercial Bank "BANK OF CHINA" (Joint Stock Company), JSCB "BANK OF CHINA" (JSC), full corporate name of the Bank in English: Joint-Stock Commercial Bank "BANK OF CHINA (RUSSIA)", abbreviated corporate name of the Bank in English: BANK OF CHINA (RUSSIA) (general license of the Central Bank of the Russian Federation for banking operations No. 2309 dated 07/01/1997) is a subsidiary of Bank of China Limited (BOC Limited) with over 800 foreign branch networks offices in more than 30 countries and regions around the world. In 1993, Bank of China became one of the first foreign banks to open a subsidiary bank in Russia. Over the years, JSCB "BANK OF CHINA" (JSC) has earned a reputation as a solid and reliable partner. .
Since its opening, JSCB "BANK OF CHINA" (JSC) has been providing legal entities and individuals with a wide range of services based on modern technologies and the global branch network of "Bank of China". We serve clients from Russia, China and other countries. At the same time, deep knowledge of both the Russian and Chinese markets allows us to more fully meet the individual needs of customers. .