State-owned banks, that is, state-owned banks, refer to large banks directly controlled by the state (Ministry of Finance, Central Huijin Company).
Established in 1908, Bank of Communications is one of the six largest banks in China, one of the oldest banks in China and one of the note-issuing banks in modern China. Bank of Communications is a state-owned bank. The business scope of Bank of Communications Group covers commercial banks, financial leasing, funds, wealth management, trust, insurance, overseas securities, debt-to-equity swaps and offshore finance.
Bank of Communications Group's non-bank companies mainly include Bank of Communications Financial Leasing Co., Ltd., Bank of Communications Financial Assets Investment Co., Ltd., Bank of Communications Financial Management Co., Ltd. and Bank of Communications Insurance Co., Ltd., and its holding subsidiaries, Bank of Communications Schroeder Fund Management Co., Ltd., Bank of Communications International Trust Co., Ltd., Bank of Communications Life Insurance Co., Ltd. and Bank of Communications International Holdings Co., Ltd.
By the end of June 2022, there were 248 domestic branches of Bank of Communications, including 30 provincial branches, 7 directly affiliated branches and 2 1 1 provincial branches, with 2,868 outlets in 248 cities at or above the prefecture level and 182 counties or county-level cities. Meanwhile, Bank of Communications has established 23 overseas branches (subsidiaries) and representative offices in Hong Kong, Macau, Taipei, Tokyo, Seoul, Singapore, Ho Chi Minh City, Sydney, Brisbane, Melbourne, Frankfurt, London, Luxembourg, Paris, Rome, Prague, new york, San Francisco, Toronto, Rio de Janeiro and Johannesburg.
Adhering to the strategic goal of "building a world-class bank with wealth management characteristics and global competitiveness", Bank of Communications has formulated and implemented the Tenth Five-Year Plan, taking the construction of "Shanghai Home" and the digital new bank of Bank of Communications as two breakthroughs, creating four business characteristics of inclusive finance, trade finance, technology and finance and wealth finance, and promoting high-quality development.
In 20021year, Bank of Communications ranked among the Fortune Global 500 for 13 years in a row, and its operating income ranked 137. In 2022, according to TheBanker's latest ranking of World Bank 1000, the ranking of tier-one capital of Bank of Communications was 10, up from the previous year.