The four major banks are four state-owned banks directly controlled by the state (Ministry of Finance and Central Huijin Company), namely China Industrial and Commercial Bank, China Agricultural Bank, China Bank and China Construction Bank.
Bank of Communications is not directly controlled by the state, and its full name is not China Bank of Communications, but Bank of Communications.
Bank of Communications, founded in 1908 (thirty-four years of Guangxu), is one of the four largest banks in China and one of the early note-issuing banks in China. 1958 except for the hong kong branch, the domestic business of bank of communications was merged into the local people's bank and the people's construction bank of China, which was established on the basis of bank of communications.
On July 24th, 1986, as a pilot of financial reform, the State Council approved the reorganization of Bank of Communications. 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 2007, the State Council approved the overall plan of Bank of Communications to deepen the shareholding system reform. During the reform, Bank of Communications completed financial restructuring and successfully introduced domestic and foreign strategic investors such as HSBC, Social Security Fund and Central Huijin Company. On June 23, 2007, Bank of Communications successfully listed in Hong Kong, becoming the first mainland commercial bank to list overseas.
Bank of Communications has a nationwide and overseas-oriented institutional system and business network. There are 27 provincial branches, 7 directly affiliated branches and 58 provincial branches (branches) in China, and branches have been set up in 137 cities (in addition to the above 92 branches, there are 45 county-level city branches that have not been accounted for separately), with nearly 2,600 business institutions. We have branches in new york, Tokyo, Hongkong, Singapore and Seoul, and representative offices in London and Frankfurt. Established correspondent bank relationship with 175 1 head offices of 8 19 banks in 107 countries and regions around the world. There are 55,000 employees in the whole bank.
Bank of Communications has many brand products represented by Waihuibao, Pacific Card and Fund Supermarket. In 2007, as one of the three pilot banks to set up fund companies, Bank of Communications initiated the establishment of Bank of Communications Schroeder Fund Management Company; The launch of the "China Global Card" with the strategic partner HSBC-Pacific Dual Currency Credit Card logo indicates that Bank of Communications will provide services to customers at home and abroad.
In 2007, total assets and deposits exceeded 1 trillion yuan, and the ratio of non-performing assets fell below 3%. By the end of June 2007, the capital adequacy ratio of Bank of Communications reached 1 1.29%, of which the core capital adequacy ratio reached 8.68%. The asset scale reached 654.38+0.2925 billion yuan, which was 63 times higher than 2,065.438+0 billion yuan at the beginning of resumption of business. The balance of various deposits reached1147.5 billion yuan; In the first half of 2007, Bank of Communications made a profit after tax of 4.605 billion yuan. Bank of Communications has become the fifth largest commercial bank in China after the four state-owned banks. Ranked by total assets, it ranks 89th among the global 1000 big banks.