Bank of China

Bank of China Limited (simplified Chinese  traditional Chinese pinyin: Zhōngguó Yínháng; often abbreviated as  in Hong Kong or  in mainland is one of the 5 biggest state-owned commercial banks in China.

It was founded in 1912 by the Republican government to replace the Imperial Bank of China. It is the oldest bank in mainland China still in existence. From its establishment until 1942, it issued banknotes on behalf of the Government along with the "Big Four" banks of the period: the Farmers Bank of China, Bank of Communications and Central Bank of the Republic of China. Its headquarters are in Xicheng District, Beijing.

As of 31 December 2009, it was the second largest lender in China overall, and the 5th largest bank in the world by market capitalization value.As of 30 June 2015, it has the third highest proportion of interest payable of Chinese companies

Daqing Bank's Dalian Branch 1910, now Dalian branch of China CITIC Bank

The Bank of China's history began in 1905, when the Qing government established Daqing Hubu Bank[5] (in Chinese in Beijing, which was in 1908 renamed to Daqing Bank (in Chinese  When the Republic of China was established in 1912, it was further renamed as Bank of China by President Sun Yat-sen's government, adding a new role of the central bank.

After the Chinese Civil War ended in 1949, the Bank of China effectively split into two operations. Part of the bank relocated to Taiwan with the Kuomintang KMT government. It was privatised in 1971 to become the International Commercial Bank of China . It has subsequently merged with the Taiwan Bank of Communications (Chiao Tung Bank, to become the Mega International Commercial Bank  The Mainland operation is the current entity known as the Bank of China.

It is the second largest lender in China overall, and the fifth largest bank in the world by market capitalization value.[3] Once 100% owned by the central government, via China Central Huijin and National Council for Social Security Fund SSF, an Initial public offering IPO of its shares took place in June 2006, the free float is at present over 26%. In the Forbes Global 2000 it ranked as the 21st-largest company in the world.

It is the most international of China's banks, with branches on every inhabited continent. Outside of mainland China, BOC also operates in 27 countries and areas including Australia, Canada, United Kingdom, Ireland, France, Germany, Italy, Luxembourg, Russia, Hungary, United States, Panama, Brazil, Japan, Republic of Korea, Singapore, Taiwan, Philippines, Vietnam, Malaysia, Thailand, Indonesia, Kazakhstan, Bahrain, Zambia, South Africa, and a branch office in the Cayman Islands. In December 2010, the Bank of China New York branch began offering renminbi products for Americans. It was the first major Chinese bank to offer such a product.

Although it is present in the above countries/territories, its operations outside China accounted for less than 4% of the activity of the bank by both profits and assets. Mainland China accounts for 60% of the bank by profits and 76% by assets as at December 2005.....