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Established in 1908, Bank of Communications is one of the largest banks in the People’s Republic of China. It was listed in Hong Kong in 2005 and in Shanghai in 2007.
- According to court rulings in a 2017 civil forfeiture action, the banks were Bank of Communications, China Merchants Bank and Shanghai Pudong Development Bank
- Pudong Bank stands at risk of losing access to US dollars, the lifeblood of global finance
The yuan is likely to drop below the level of seven yuan to a US dollar within three months, and the stock markets in mainland China and Hong Kong are gradually pricing in this scenario, Bank of Communications International said on Wednesday.
The yuan is likely to drop below the level of seven yuan to a US dollar within three months, and the stock markets in mainland China and Hong Kong are gradually pricing in this scenario, Bank of Communications International said on Wednesday.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
About half of new loans issued by China’s big six banks last year went to individual property buyers, despite Beijing’s orders to lend to private companies.
About half of new loans issued by China’s big six banks last year went to individual property buyers, despite Beijing’s orders to lend to private companies.
Peng Chun will leave Bank of Communications to become the third chairman of China Investment Corporation since the sovereign wealth fund was founded
Peng Chun will leave Bank of Communications to become the third chairman of China Investment Corporation since the sovereign wealth fund was founded
China’s fifth biggest lender saw credit-card payments rise 44 per cent as Beijing makes life tougher for digital payment firms
China’s fifth biggest lender saw credit-card payments rise 44 per cent as Beijing makes life tougher for digital payment firms
Two of the mainland's biggest banks reported sharply rising bad loans for the third quarter, with one adding that a credit crunch squeezing small companies in export-oriented eastern provinces might be spreading westwards.
Two of the mainland's biggest banks reported sharply rising bad loans for the third quarter, with one adding that a credit crunch squeezing small companies in export-oriented eastern provinces might be spreading westwards.
Bank of Communications has shot back at a new constraint on bank deposits, calling the rule issued jointly by three mainland regulators an obstacle to growing deposits and saying banks would simply find a way around it.
Bank of Communications has shot back at a new constraint on bank deposits, calling the rule issued jointly by three mainland regulators an obstacle to growing deposits and saying banks would simply find a way around it.
Bank of Communications posted a 2 per cent drop in its net profit in the final three months of last year, the only one of the mainland's top five banks to miss market forecasts.
Bank of Communications posted a 2 per cent drop in its net profit in the final three months of last year, the only one of the mainland's top five banks to miss market forecasts.
Bank of Communications (Bocom), the mainland's fifth-largest lender by assets, said net profit climbed 11.5 per cent in the first quarter but impairment losses on loans and advances surged by more than a third year on year.
Bank of Communications (Bocom), the mainland's fifth-largest lender by assets, said net profit climbed 11.5 per cent in the first quarter but impairment losses on loans and advances surged by more than a third year on year.