Bank of Communications (BCM) was established in 1908. It is one of the oldest banks in China and one of the modern note-issuing banks in China. 1 987 April1day, the newly established Bank of Communications officially opened to the outside world, becoming the first national state-owned joint-stock commercial bank in China, with its head office in Shanghai. In June 2005, Bank of Communications was listed on the Hong Kong Stock Exchange, and in May 2007, it was listed on the Shanghai Stock Exchange.
Bank of Communications is one of the major financial service providers in China, covering commercial banks, securities, trusts, financial leasing, fund management, insurance and offshore financial services. There are 235 domestic branches of Bank of Communications, including 30 provincial branches, 7 directly affiliated branches and 99 provincial branches/kloc-0, with 3,270 outlets in 239 cities above prefecture level and 158 counties or county-level cities. It owns seven non-bank companies, including wholly-owned subsidiaries of Bank of Communications Leasing, Bank of Communications Insurance and Bank of Communications Investment, and holding subsidiaries of Bank of Communications Fund, Bank of Communications Guo Xin, Bank of Communications Life Insurance and Bank of Communications International. In addition, Bank of Communications is the largest shareholder of Changshu Rural Commercial Bank and the largest shareholder of Tibet Bank. Strategic shareholding in Hainan Bank, holding four rural banks.
Bank of Communications has been ranked among the top 500 in the world for nine consecutive years, and its operating income ranks171; Ranked in Banker magazine, ranked 1 1 among the tier-one capital of the global 1000 big banks, two places higher than 20 16. On July 24th, 2020, Fortune ranked 46th on the China 500 list in 2020.