Bank of Communications

Corporate brand

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A major Chinese state-controlled commercial banking and financial-services group with roots dating to 1908.

Last updated October 26, 2026

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Overview

Bank of Communications, commonly known as BOCOM or BankComm, is a Chinese commercial bank and diversified financial-services group headquartered in Shanghai. It is one of the country’s major state-controlled banks and operates across corporate banking, personal banking, treasury and financial-market services, securities, trust, financial leasing, fund management, insurance and offshore finance. Its domestic banking franchise is supported by a broad branch network, while overseas operations have included branches, subsidiaries and representative offices in major Asian, European, North American and Australasian financial centres. The institution was created in 1908 during the late Qing period. Its initial purpose was closely associated with the financing of transportation infrastructure and the recovery of the Beijing–Hankou Railway from Belgian ownership. The bank provided more than half of the financing used for that transaction, making it an important institution in the development of modern Chinese banking and infrastructure finance. The word “communications” in its name referred to transport and the connection of places, rather than to telecommunications. During the Republican period, Bank of Communications expanded its domestic role and developed an international presence. It opened its first Hong Kong branch in 1934. The bank was among the limited number of Chinese banks that historically possessed the authority to issue banknotes, although that privilege ended in 1942 when the Nationalist government consolidated note issuance under the Central Bank of China. The political division of China after 1949 produced separate mainland and Taiwan continuations of the institution. Mainland operations were absorbed into the People’s Bank of China and the People’s Construction Bank of China during the period of a centralized, single-tier banking system. The Taiwan continuation retained the Bank of Communications name for a period and was later combined with the International Commercial Bank of China, ultimately becoming part of Mega International Commercial Bank. The Hong Kong operation continued under the same name and became associated with the Bank of China Group. The mainland bank was re-established following a State Council decision in 1986. It was restructured and recommenced operations on 1 April 1987, with Shanghai serving as its head-office location. This revival occurred during China’s transition toward a market-oriented financial system and enabled the institution to resume its role as a nationwide commercial bank. In the following decades, Bank of Communications expanded its branch network, developed non-banking financial subsidiaries and strengthened its international business. The bank completed a Hong Kong listing in June 2005 and a Shanghai listing in May 2007. HSBC became a significant strategic shareholder during the bank’s modernization and market-opening period; in January 2005, HSBC Holdings was reported to hold 19.9 percent. Bank of Communications subsequently broadened its capital base through public-market financing and, in 2015, issued Basel III-compliant capital instruments convertible into preferred shares to strengthen additional Tier 1 capital. Its current business model combines traditional deposit-taking and lending with wealth management, payments, institutional banking, investment banking, leasing, asset management, insurance and cross-border services. The bank has been recognized in international banking and corporate rankings, and its scale places it among China’s leading commercial banks. In November 2023, it was added to the global list of systemically important banks, becoming the fifth Chinese bank on that list. This designation reflects its significance to the financial system and entails an additional capital requirement. Bank of Communications therefore occupies a position between a traditional universal bank and a broader state-linked financial group, serving government-related, corporate, institutional and retail customers in China and selected international markets.

History

Bank of Communications traces its institutional history to 1908, when it was established in the late Qing period as a national bank associated with transportation finance and the broader modernization of China’s financial system. It became one of the country’s important early commercial banks and is widely identified as China’s first national joint-stock commercial bank. During the first half of the twentieth century, the bank expanded its role in banking, payments, and financing connected with transportation and economic activity. After 1949, China’s banking system was reorganized under a highly centralized model. Bank of Communications’ historical operations were absorbed or reorganized within that system, and its earlier identity as a nationwide commercial bank was not maintained in the same form. The reform and opening-up period created new demand for commercially managed financial institutions, diversified banking services, and mechanisms capable of supporting industrial development, trade, and infrastructure investment. In 1987, Bank of Communications was re-established as a nationwide commercial bank. The modern bank was headquartered in Shanghai and became one of the earliest large banking institutions created during China’s financial reforms. Its formation reflected the gradual separation of central-bank and commercial-bank functions and the government’s effort to build a more diverse banking sector. Over subsequent decades, the bank developed a nationwide branch network and expanded from traditional corporate banking into retail banking, treasury, investment banking, asset management, custody, cards, settlement, and international business. The bank’s internationalization and capital-markets development accelerated in the 2000s. It completed its Hong Kong listing in 2005 and its Shanghai listing in 2007. HSBC became a strategic investor during this period, a relationship that attracted international attention and supported the bank’s engagement with global banking practices. HSBC subsequently reduced its ownership interest, while Bank of Communications retained a publicly listed structure and substantial state ownership. During the 2010s and 2020s, the bank broadened its service model through subsidiaries and group businesses, overseas operations, electronic channels, mobile banking, online payments, wealth management, and financial-market services. It also placed increasing emphasis on risk governance, capital management, inclusive finance, small-business lending, green finance, and support for cross-border commerce. Digital transformation became a central operational theme as Chinese customers and businesses shifted more activity to mobile and online channels. Today, Bank of Communications operates as a large Chinese banking group serving corporate, institutional, government-related, small-business, and retail customers. Its business remains centered on commercial banking, but the group also provides a wider range of financial services through related entities. The bank’s historical significance derives from both its early twentieth-century origins and its role in the post-1987 development of China’s modern nationwide commercial-banking system.

2015
Launch of the BoCom brand identity
[1]Bank of Communications official websitebankcomm.com
The bank continued modernizing its corporate identity and customer-facing brand as it developed digital and comprehensive financial services.
2007
Shanghai listing
[2]Bank of Communications corporate informationbankcomm.com
The bank completed an A-share listing on the Shanghai Stock Exchange.
2005
Hong Kong listing
[2]Bank of Communications corporate informationbankcomm.com
Bank of Communications listed its H shares on the Hong Kong Stock Exchange, connecting the bank with international equity markets.
1987
Modern bank re-established
[2]Bank of Communications corporate informationbankcomm.com
The modern Bank of Communications was re-established as a nationwide commercial bank during China’s reform-era financial restructuring.
1908
Bank established
[3]Bank of Communicationsen.wikipedia.org
Bank of Communications was established in China and became an early national joint-stock commercial bank, with historical links to transportation and economic modernization.

Products and positioning

A large, state-controlled and publicly listed Chinese commercial bank combining nationwide corporate and retail banking with cross-border, investment-banking, wealth-management, and digital-finance capabilities.

Commercial banking
Corporate Banking
Bank of Communications provides deposits, working-capital facilities, project and infrastructure finance, syndicated loans, trade finance, cash management, payments, foreign exchange, and other services for corporations, public-sector entities, financial institutions, and institutional customers. The business is designed to support the operating, investment, treasury, and cross-border needs of large and medium-sized enterprises as well as selected smaller businesses.
Consumer banking
Retail Banking
The retail franchise serves individuals through deposits, mortgages, consumer lending, payment accounts, bank cards, personal foreign exchange, wealth management, and digital channels. Its branch network and mobile services support everyday payments and savings, while personal finance and wealth-management products address longer-term investment and protection needs subject to applicable regulation.
Asset management
Wealth Management and Asset Management
The group offers wealth-management and asset-management services to retail, corporate, and institutional clients. Activities may include managed investment products, institutional portfolio services, custody, advisory support, and related distribution. Product availability and legal structure vary by entity and are governed by Chinese financial regulation and applicable risk-disclosure requirements.
International banking
Cross-Border and International Banking
Bank of Communications supports international trade and overseas activity through foreign-currency accounts, trade finance, remittances, foreign exchange, cross-border settlement, offshore and onshore renminbi services, and overseas banking operations. These capabilities serve Chinese companies expanding abroad, foreign companies operating in China, and customers engaged in international commerce.
Financial technology
Digital Banking
Digital banking includes online and mobile account services, payments, transfers, card management, wealth-management access, customer-service tools, and technology-enabled credit and risk processes. Digital channels complement the bank’s physical network and are part of its effort to improve convenience, operating efficiency, financial inclusion, and data-driven service delivery.

Controversies

2025
Source 1 Source 2 Source 3
2021
Source
2020
Regulator fines two banks over customer information protection violations
On August 5, the China Banking and Insurance Regulatory Commission disclosed that China Merchants Bank Credit Card Center and Bank of Communications Pacific Credit Card Center had each been fined RMB 1 million for failing to fulfill security-protection obligations concerning customer personal information. The cited violations occurred in 2019.
Source

2023
Bank of Communications added to global systemically important bank list[3]Bank of Communicationsen.wikipedia.org
Regulation
The bank became the fifth Chinese institution included among global systemically important banks. Its designation carried a reported additional capital requirement of 1 percent.
2015
Bank issues Basel III additional Tier 1 capital instrument[3]Bank of Communicationsen.wikipedia.org
Other
Bank of Communications sold approximately US$2.45 billion of Basel III-compliant bonds convertible into preferred shares, with proceeds intended to replenish additional Tier 1 capital.
2007
Bank of Communications listed in Shanghai[3]Bank of Communicationsen.wikipedia.org
Other
The bank added a Shanghai Stock Exchange listing after its Hong Kong flotation.
2005
Bank of Communications listed in Hong Kong[3]Bank of Communicationsen.wikipedia.org
Other
The bank completed its listing on the Hong Kong Stock Exchange, supporting its capital-market development and internationalization.

Sources60 sources

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Overview

History

Products and positioning

Controversies

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Sources60 sources