After the founding of the Republic of China, the Bank of Communications was entrusted by the Central Bank to undertake the revenue and expenditure of the national treasury and exchange the national currency with the Bank of China. 1928, the Legislative Yuan of the National Government passed the Regulations on Bank of Communications, and Bank of Communications became a specialized bank to help farmers and workers.
When Bank of Communications was founded, its headquarters was located in Beijing. 19 19. After World War I, Bank of Communications Shanghai Branch took over the four-story Renaissance-style building of Dehua Bank located at the Bund 14 in Shanghai Concession. 1928, with the national political center transferred from Beijing to Nanjing, Bank of Communications also moved its head office to Shanghai Bund 14. 1937 when War of Resistance against Japanese Aggression broke out, the head office of Bank of Communications moved to Chongqing. After the war, 1946- 1947, the Shanghai headquarters was rebuilt into a six-story building in the Art Deco style.
Bank of Communications Head Office 195 1 moved back to Beijing, and Shanghai Bund 14 has been stationed by Shanghai Federation of Trade Unions. 1958 the domestic business of bank of communications was merged into the local people's bank of China and the people's construction bank of China (now known as China construction bank (HKEx 0939)) in addition to the hongkong branch. In order to adapt to the reform and development of China's economic system, on July 24th, 1986, the State Council approved the re-establishment of Bank of Communications as a pilot of financial reform. 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 with its head office located at No.200 Jiangxi Middle Road (formerly Jincheng Bank Building); At present, the head office of Bank of Communications has moved toNo. Yin Cheng Middle Road 188, Pudong. In 2004, HSBC invested nearly US$ 654.38+700 million to acquire 654.38+09.9% equity of Bank of Communications. On June 23, 2005, it was listed on the Hong Kong Stock Exchange with the stock code HKEx: 3328. On April 25th, 2007, it was issued in Shanghai Stock Exchange with the issue price of 7.90 RMB and the stock code of 60 1328. It was listed on May 15, 2007.
As the first national joint-stock commercial bank in China, Bank of Communications has shouldered a dual historical mission since it was re-established. It is not only the inheritor of a century-old national financial brand, but also the forerunner of China's financial system reform. Bank of Communications has achieved six firsts in the reform and development of China's financial industry, namely, the first source of capital and the form of property rights are joint-stock system; The first institution established according to the market principle and the cost-benefit principle; The first company broke the monopoly of the financial business scope and introduced the competition mechanism into the financial field; The first company introduced asset-liability ratio management to standardize business behavior and prevent business risks; The first to establish a new type of bank-enterprise relationship with two-way selection; The first comprehensive commercial bank that can engage in banking, insurance and securities business. The reform and development practice of Bank of Communications paved the way for the development of China's joint-stock commercial banks and played a catalytic, promoting and exemplary role in financial reform.
In June 2004, in the process of deepening financial reform in China, the State Council approved the overall plan of Bank of Communications to deepen the shareholding system reform. The goal is to turn Bank of Communications into a modern financial enterprise with perfect corporate governance structure, sufficient capital, strict internal control, safe operation, good service and benefit, strong international competitiveness and a century-old national brand. In deepening the shareholding system reform, Bank of Communications completed financial restructuring, successfully introduced domestic and foreign strategic investors such as HSBC, Social Security Fund and Central Huijin Company, and made efforts to promote the benign transformation of institutional mechanisms. On June 23rd, 2005, Bank of Communications successfully listed in Hong Kong, becoming the first mainland commercial bank in China to list overseas. At present, Bank of Communications has developed into a century-old national brand modern commercial bank with clear development strategy, perfect corporate governance, sound institutional network, advanced management, excellent financial services and good financial status.
Quality financial services. Bank of Communications has always attached equal importance to inheritance and innovation, established itself in good faith and won by service, constantly explored and forged ahead in the fields of financial products, financial instruments and financial system, and formed a business system with comprehensive product coverage and advanced scientific and technological means. Through the combination of "one-to-one" service of traditional outlets and all-round modern electronic service channels, we will provide comprehensive and thoughtful professional services to customers in corporate finance, private finance, international finance, intermediary business and other fields. Bank of Communications has a number of well-known brand products represented by "Waihuibao", "Pacific Card" and "Fund Supermarket", and its market share ranks among the best in the industry. In 2006, Bank of Communications continued to speed up product development, and successively launched a series of new financial products such as Ward Wealth Account, Yingtong Account, Manjinbao and Zhanyetong. The product line of the whole bank is more abundant, the customer service function is continuously improved, and the market competitiveness is further enhanced.
In good financial condition. Seizing the favorable opportunity to enhance the brand and market image after the successful overseas listing, Bank of Communications has accelerated the pace of business expansion, fully demonstrated its operational vitality, developed its businesses in a healthy, rapid and coordinated manner, and its comprehensive strength has been increasing day by day, and its financial situation is at the leading level of its peers in China. By the end of 2006, the capital adequacy ratio and core capital adequacy ratio of Bank of Communications reached 10.83% and 8.52% respectively, and the asset scale reached1719.5 billion yuan, an increase of 20.8% over the end of last year. The total deposits and loans reached 654.38+04.203 billion yuan and 965.438+003 billion yuan respectively; After-tax profit was 654.38+0.227 billion yuan, an increase of 32.71%over the previous year; ROA and ROE reached 0.7 1% and 13.57% respectively. The defective rate was 2.0 1%. In terms of total assets, Bank of Communications ranks 73rd among the 65,438+0,000 big banks in the world, and ranks 65th among the top 100 banks in the world. The Bank of Communications, which is celebrating its 20th anniversary, is accelerating its strategic transformation and moving towards the goal of building a first-class modern financial enterprise. "Accommodation and eternal integrity" is the common aspiration of Bank of Communications, which will make unremitting efforts to provide better services for customers, create more value for shareholders and make greater contributions to society.
This enterprise ranked 50th in the top 500 Chinese enterprises in 2006 and 50th in the top 500 Chinese enterprises in 2007 jointly issued by china enterprise confederation and China Entrepreneurs Association.