Corporate Fact Sheet

BOC Hong Kong (Holdings) Limited (“the Company”) is one of the largest listed companies and commercial banking groups in Hong Kong, holding the entire equity interest of Bank of China (Hong Kong) Limited (“BOCHK”), its principal operating subsidiary. Bank of China (“BOC”) established its foothold in Hong Kong in September 1917. Following the restructuring of the businesses of Bank of China Group’s member banks in Hong Kong, the Company was incorporated in Hong Kong on 12 September 2001 and has been listed on the Main Board of the Stock Exchange of Hong Kong since 25 July 2002 with stock code “2388” and ADR OTC Symbol “BHKLY”. BOC holds approximately 66.06% of the equity interest of the Company through BOC Hong Kong (BVI) Limited, an indirect wholly-owned subsidiary of BOC.

BOCHK’s strategic goal is to “Build a Top-class, Full-service and Internationalised Regional Bank”. Capitalising on its advantages as a major commercial banking group in Hong Kong, BOCHK aims to increase local market penetration and actively expand its business in the Southeast Asian region. We strive to provide customers with comprehensive, professional and high-quality services. As one of the three note-issuing banks and the sole clearing bank for Renminbi (“RMB”) business in Hong Kong, BOCHK has strong market positions in all major businesses. Our strong RMB franchise has made us the first choice for customers in RMB business.

We have the most extensive branch network and diverse service platforms in Hong Kong, including more than 190 branches, 280 automated banking centres, over 1,000 self-service machines, and efficient e-channels such as Internet and Mobile Banking services. We offer a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. Entering into a new era of smart banking, we adhere to the “Technology-based and Innovation-driven” strategy and strive to enhance customer experience with intelligent products and services, in order to become a customercentric digital bank.

To align with the overseas development strategy of BOC Group, we are actively driving our regional development. With our branches and subsidiaries in Thailand, Malaysia, Vietnam, the Philippines, Indonesia, Cambodia, Laos and Brunei, we support customers in the region with professional and high-quality financial services. Through close collaboration with our parent bank BOC, we provide a full range of high-quality cross-border services to multinationals, cross-border customers, mainland enterprises going global, central banks and super-sovereign organisations.

As a leading commercial and internationalised regional bank deeply rooted in Hong Kong for over 100 years, we are committed to undertaking our corporate social responsibilities, promoting long-term and balanced sustainable development, and delivering greater value for our stakeholders and the community.

Corporate Vision

The Group strives for excellence in providing full-fledged banking services to become a main banker for a larger client base in Hong Kong and to develop a strategic foothold in the region. To realise this vision, we have identified four key strategic areas to focus on: (1) to strengthen overall leading position in Hong Kong; (2) to diversify sources of revenue to achieve a sustainable growth; (3) to maintain leadership in offshore RMB business; (4) to collaborate closely with our parent bank BOC to increase presence outside Hong Kong.

Business Performance

In 2019, BOCHK continued to earnestly carry out the Board’s decisions and strived for steady advancement. As a result, we effectively implemented our strategy and further enhanced the reputation of our century-old brand. Key highlights are as follows:

  • Sustained solid growth in profit for the year
  • Achieved steady growth in total assets and further improved on our financial performance indicators
  • Maintained a stable risk profile
  • Business footprint has now expanded to eight Southeast Asian countries, making substantial progress in regional expansion strategy
  • Promoted synergistic development and enhanced cross-border collaboration, by capitalising on the opportunities arising from the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development
  • Committed to the local market, promoted the digitalisation of our service outlets and stepped up Fintech innovation, thereby solidifying and enhancing our market position further
  • Continued to promote the development of our diversified business platforms, in order to provide increasingly comprehensive financial services and effectively expand our sources of income
  • Further expanded our leading position by our proactive efforts to promote RMB internationalisation.
  • Driving the development of our regional risk management system to enhance risk management and internal controls

Click here for 2019 Annual Report

Outlook

Looking ahead into 2020, the global economy remains mired in a process of deep consolidation following the 2008 global financial crisis. Long-term development conflicts remain unresolved and new problems continue to surface. Against this background, the world is facing stronger downward pressures on growth, more concentrated financial system risks and more divergent economic landscape across nations. While the unexpected outbreak of novel coronavirus in early 2020 will weigh upon economic growth, China’s long-term positive growth trend remains unchanged. In front of the economic headwinds both externally and internally, Hong Kong government launched a series of relief measures to support enterprises, employment and general livelihood, while increasing expenditure on infrastructure building and technological innovation. These positive factors will serve to stabilise Hong Kong’s economic trajectory. Meanwhile, new developments such as the central government’s 16 measures to benefit Hong Kong, deepening international cooperation through the Belt and Road initiative, the comprehensive advancement of ASEAN-Hong Kong economic and trade relationships, and the further opening-up of mainland’s capital markets and financial industries, will provide new impetus and opportunities to Hong Kong and the banking sector.

Corporate Governance

The Group recognises the importance of high standards of corporate governance and maintains an effective corporate governance framework which delivers its long-term success. The Group is also strongly committed to embracing and enhancing sound corporate governance principles and practices. The established and well-structured corporate governance framework directs and regulates the business ethical conduct of the Group, thereby protects and upholds the value of shareholders and stakeholders as a whole in a sustainable manner.

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