Bank of Communications
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Bank of Communications

(交通银行)

Bank of Communications
Bank of Communications
交通银行
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.
Chairman / President
Ren Deqi
CEO / Managing Director
Zhang Baojiang
CFO / Finance Director
Liu Jianjun
Industry
Financial services
Website
bankcomm.com
Headquarters address
Shanghai, People's Republic of China
Stock Code
SEHK: 3328
SEHK: 4605
SSE: 601328
Year founded
1908
In the first three quarters of this year, Vanke posted a net loss of 28.02 billion yuan. Photo: Reuters
China property

China Vanke unveils proposal to extend US$366 million bond after 3 failed bids

Bondholders will vote on the revised plan from Thursday to Monday, and it requires over 90 per cent of the total voting rights to take effect.

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Hong Kong’s Tai Po fire tragedy

Students, workers, domestic helpers hit by Hong Kong fire get HK$20,000 payout

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Banking & finance

Hong Kong prices world’s first bonds with tokenised settlement

Hong Kong politics

Exclusive | 30% of 161 Hong Kong Legco election candidates linked to mainland Chinese firms

Higher proportion marks significant increase from 2021 poll and reflects growing prominence of mainland capital in Hong Kong’s economy.

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The Legco chamber in Admiralty. Photo: Edmond So
Banking & finance

Tencent appoints banks for first bond sale in 4 years

Bank of China and JPMorgan Chase to serve as joint global coordinators.

Hong Kong property

Schroders hit by Hong Kong property slump as banks seize assets

Bank of Communications is weighing options for a loan extended to Schroders for a commercial space at Harbourfront Landmark in Hung Hom.

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Banking & finance

Profitability pressure grows for China’s state banks amid low rates

All six state banks, including ICBC and China Construction Bank, report lower margins alongside small reductions in bad loans.

The logo of Industrial and Commercial Bank of China is seen in Shanghai on March 1, 2023. Photo: Future Publishing via Getty Images
Banking & finance

HSBC to keep highest yield among Greater China’s banks: JPMorgan

The 160-year-old bank, which traces its roots to Hong Kong and Shanghai, is likely to return between 9 per cent and 11 per cent to shareholders in 2025, says JPMorgan.

China’s economic stimulus

New committee, bailout talk: is China launching a fresh property rescue effort?

China’s central bank has set up a new ‘financial stability committee’ and pledged to defuse risks in key regions and institutions.

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Banking & finance

HSBC sees higher bad debts from Hong Kong’s property slump, tariff-induced pain

HSBC's CEO continues cost-cutting measures and orders all managing directors to work from office for at least four days a week from October 1.

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Office workers walk past lion statues outside HSBC’s main office building in Central. Photo: Elson Li
Banking & finance

HKMA dismisses ‘bad bank’ rumour, says Hong Kong banks are sound

The regulator rejects reports that some Hong Kong lenders are discussing the need to establish an institution to soak up soured debt.

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Hong Kong’s banking regulator has dismissed reports that some local banks are discussing the need to set up a ‘bad bank’. Photo: May Tse
Banking & finance

China gives Hong Kong new yuan transfer cap as payment link starts

Starting from noon on Sunday, the 17 million registered users of Hong Kong’s FPS will be able to remit up to HK$10,000 per day to 298 million users on the mainland’s IBPS.

Banking & finance

China’s 4 top state-owned banks to raise US$72 billion from stock sales to boost capital

The fundraising comes after the National People’s Congress vowed earlier this month to recapitalise major state banks.

Banking & finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
Hong Kong property

China Vanke’s Hong Kong unit sees strong flat sales despite mortgage concerns

The embattled developer has sold 223 of the 228 flats on offer at its Le Mont residential project, according to agents.

Potential buyers queue up for China Vanke’s Le Mont residential project in Tai Po at its sales office in Cheung Sha Wan on Saturday. Photo: Nora Tam
Banking & finance

Beijing allows Hong Kong banks to issue credit cards in China from March 1

The new rules will benefit lenders such as HSBC, Standard Chartered, Bank of East Asia and Hang Seng Bank, analysts say.

Banking & finance

HSBC to deploy US$1.5 billion to Hong Kong, Asia from ‘low-return’ markets

Hong Kong’s biggest bank announced US$2 billion in a share buy-back programme and 87 US cents per share in dividend.

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Banking & finance

China weighs injecting US$142 billion of capital into top banks

Funding for the first such intervention since the 2008 financial crisis would mainly come from new special sovereign bonds, sources say.

An ICBC branch in Chengdu. Photo: Bloomberg
Banking & finance

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Banking & finance

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

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Hong Kong Monetary Authority (HKMA)

Hong Kong opens e-CNY pilot programme to whole city, no mainland account needed

Roll-out provides a safe, convenient means of payment for Hongkongers spending in mainland China and mainland users in Hong Kong, HKMA says.

A mobile phone displays China’s e-CNY app in Beijing on May 13, 2024. Photo: Simon Song
Banking & finance

China’s banks to sell US$60 billion of loss-absorbing bonds to meet PBOC’s norms

ICBC and BOC line up issuance plans for 60 billion yuan worth of total loss-absorbing capacity (TLAC) bonds as Chinese G-SIBs (global systemically important banks) are expected to sell 440 billion yuan of these newly introduced bonds.

Bank of China (BOC) Tower seen from West Kowloon on a smoggy day. Photo: Xiaomei Chen
Banking & finance

China’s ICBC, Agricultural Bank post profit drops on margin squeeze

The government may press state banks to continue cutting lending rates, further eroding their margins, analyst says.

Banking & finance

Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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Banking & finance

Chinese banks pull out some long-term deposit products, cut rates to boost margins

China’s banks are removing some of their long-term fixed-income products and cutting rates offered to depositors in an effort to shore up profitability, as challenges including a slumping property sector, mounting local government debt, and slow consumption recovery weigh on bank earnings.

A branch of China CITIC Bank in Yichang, Hubei province, China. Photo: Getty Images
Banking & finance

With new regulations and mandates, is the party over for China’s finance sector?

China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.

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Illustration: Henry Wong
Banking & finance

Bocom posts slight rise in profits and points to improving asset quality

Bocom paints resilient picture for year ahead despite posting slower profit growth and warning about challenges from property sector.

Banking & finance

Bank of China plans US$21 billion bond sales to meet capital requirements

The bank will be the nation’s first big state bank to sell loss-absorbing bonds to plug a major funding shortfall before a 2025 deadline to meet global capital requirements

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