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Bank of China: The 21st century has seen China assume an increasingly large position in global finance. In fact, the biggest four banks in the world (by asset size) are Chinese, according to the 2021 annual rankings by S&P Global Market Intelligence. Bank of China is the fourth largest bank in the world. Bank of China was founded in 1912 by the Republican government to replace the Daqing Bank. It is the second oldest bank in mainland China still in existence. It's is about 110 years old, situated in Beijing, China, and founded by Chen Jintao.

As of 31 December 2019, it was the second-largest lender in China overall and the ninth-largest bank in the world by market capitalization value. it is the fourth largest bank in the world. But the journey to a place in top in worldwide isn’t easy.

But how did the Bank of China reach this position? How did they start their journey?

Today we will know about their journey, about their achievement.

Bank of China starts its journey with Chen Jintao. At first, it was Daqing Hubu Bank in 1905 and renamed Daqing Bank in 1908. When the Republic of China was established in 1912, Chen Jintao was named head of financial reform in President Sun Yat-sen's government. Chen Jintao transformed the bank into the Bank of China, becoming its founder.

It is the most globally active of China's banks, with branches on every inhabited continent. Bank of China Ltd. engages in the provision of banking and financial services. It operates through the following business segments: Corporate Banking, Personal Banking, Treasury Operations, Investment Banking, Insurance, and Others. About 309,084 members work here.

The bank is at the forefront of the government's efforts to internationalize its currency, the yuan. In Hong Kong, Frankfurt, and other financial centers across the globe, the bank functions as a clearinghouse of the currency. The bank is also the issuer of overseas yuan-denominated bonds.

Its financial progress according to December 2020 is-

Revenue1,031.59B USD

Gross Profit--

Operating income - 283,035.88M USD

Income before tax - 276,675.78M USD

Net income - 216,726.73M USD

Its total assets numbered $3.7 trillion in 2021.

As the most international and diversified bank in China, Bank of China provides a comprehensive range of financial services to customers across the Chinese mainland, Hong Kong, Macau, Taiwan, and 31 overseas countries and regions.

BOC operates branches in 57 countries, regions, issues loans, and helps fund infrastructure projects. To provide better support for the national initiative, BOC has been continuously adding more branches in countries and regions involved in the BRI.

The bank has engaged in people-to-people exchanges to boost its influence.

Since 2018, BOC's senior executives have met with political leaders from BRI countries and regions including Serbia, Hungary, Georgia, Pakistan, Malaysia, Myanmar, and Cambodia.

BANK OF CHINA ALL DETAILS EXPLAINED

BANK OF CHINA ALL DETAILS EXPLAINED

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