Bank of Communications

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A major Chinese state-controlled commercial banking and financial-services group with roots dating to 1908.

Last updated November 4, 2026

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First read: Nov 4, 2026
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Overview

Bank of Communications, commonly known as BOCOM or BankComm, is a Chinese commercial bank and diversified financial-services group headquartered in Shanghai. It is one of the country’s major state-controlled banks and operates across corporate banking, personal banking, treasury and financial-market services, securities, trust, financial leasing, fund management, insurance and offshore finance. Its domestic banking franchise is supported by a broad branch network, while overseas operations have included branches, subsidiaries and representative offices in major Asian, European, North American and Australasian financial centres. The institution was created in 1908 during the late Qing period. Its initial purpose was closely associated with the financing of transportation infrastructure and the recovery of the Beijing–Hankou Railway from Belgian ownership. The bank provided more than half of the financing used for that transaction, making it an important institution in the development of modern Chinese banking and infrastructure finance. The word “communications” in its name referred to transport and the connection of places, rather than to telecommunications. During the Republican period, Bank of Communications expanded its domestic role and developed an international presence. It opened its first Hong Kong branch in 1934. The bank was among the limited number of Chinese banks that historically possessed the authority to issue banknotes, although that privilege ended in 1942 when the Nationalist government consolidated note issuance under the Central Bank of China. The political division of China after 1949 produced separate mainland and Taiwan continuations of the institution. Mainland operations were absorbed into the People’s Bank of China and the People’s Construction Bank of China during the period of a centralized, single-tier banking system. The Taiwan continuation retained the Bank of Communications name for a period and was later combined with the International Commercial Bank of China, ultimately becoming part of Mega International Commercial Bank. The Hong Kong operation continued under the same name and became associated with the Bank of China Group. The mainland bank was re-established following a State Council decision in 1986. It was restructured and recommenced operations on 1 April 1987, with Shanghai serving as its head-office location. This revival occurred during China’s transition toward a market-oriented financial system and enabled the institution to resume its role as a nationwide commercial bank. In the following decades, Bank of Communications expanded its branch network, developed non-banking financial subsidiaries and strengthened its international business. The bank completed a Hong Kong listing in June 2005 and a Shanghai listing in May 2007. HSBC became a significant strategic shareholder during the bank’s modernization and market-opening period; in January 2005, HSBC Holdings was reported to hold 19.9 percent. Bank of Communications subsequently broadened its capital base through public-market financing and, in 2015, issued Basel III-compliant capital instruments convertible into preferred shares to strengthen additional Tier 1 capital. Its current business model combines traditional deposit-taking and lending with wealth management, payments, institutional banking, investment banking, leasing, asset management, insurance and cross-border services. The bank has been recognized in international banking and corporate rankings, and its scale places it among China’s leading commercial banks. In November 2023, it was added to the global list of systemically important banks, becoming the fifth Chinese bank on that list. This designation reflects its significance to the financial system and entails an additional capital requirement. Bank of Communications therefore occupies a position between a traditional universal bank and a broader state-linked financial group, serving government-related, corporate, institutional and retail customers in China and selected international markets.

History

Bank of Communications traces its institutional history to 1908, when it was established in the late Qing period as a national bank associated with transportation finance and the broader modernization of China’s financial system. It became one of the country’s important early commercial banks and is widely identified as China’s first national joint-stock commercial bank. During the first half of the twentieth century, the bank expanded its role in banking, payments, and financing connected with transportation and economic activity. After 1949, China’s banking system was reorganized under a highly centralized model. Bank of Communications’ historical operations were absorbed or reorganized within that system, and its earlier identity as a nationwide commercial bank was not maintained in the same form. The reform and opening-up period created new demand for commercially managed financial institutions, diversified banking services, and mechanisms capable of supporting industrial development, trade, and infrastructure investment. In 1987, Bank of Communications was re-established as a nationwide commercial bank. The modern bank was headquartered in Shanghai and became one of the earliest large banking institutions created during China’s financial reforms. Its formation reflected the gradual separation of central-bank and commercial-bank functions and the government’s effort to build a more diverse banking sector. Over subsequent decades, the bank developed a nationwide branch network and expanded from traditional corporate banking into retail banking, treasury, investment banking, asset management, custody, cards, settlement, and international business. The bank’s internationalization and capital-markets development accelerated in the 2000s. It completed its Hong Kong listing in 2005 and its Shanghai listing in 2007. HSBC became a strategic investor during this period, a relationship that attracted international attention and supported the bank’s engagement with global banking practices. HSBC subsequently reduced its ownership interest, while Bank of Communications retained a publicly listed structure and substantial state ownership. During the 2010s and 2020s, the bank broadened its service model through subsidiaries and group businesses, overseas operations, electronic channels, mobile banking, online payments, wealth management, and financial-market services. It also placed increasing emphasis on risk governance, capital management, inclusive finance, small-business lending, green finance, and support for cross-border commerce. Digital transformation became a central operational theme as Chinese customers and businesses shifted more activity to mobile and online channels. Today, Bank of Communications operates as a large Chinese banking group serving corporate, institutional, government-related, small-business, and retail customers. Its business remains centered on commercial banking, but the group also provides a wider range of financial services through related entities. The bank’s historical significance derives from both its early twentieth-century origins and its role in the post-1987 development of China’s modern nationwide commercial-banking system.

2015
Launch of the BoCom brand identity
[1]Bank of Communications official websitebankcomm.com
The bank continued modernizing its corporate identity and customer-facing brand as it developed digital and comprehensive financial services.
2007
Shanghai listing
[2]Bank of Communications corporate informationbankcomm.com
The bank completed an A-share listing on the Shanghai Stock Exchange.
2005
Hong Kong listing
[2]Bank of Communications corporate informationbankcomm.com
Bank of Communications listed its H shares on the Hong Kong Stock Exchange, connecting the bank with international equity markets.
1987
Modern bank re-established
[2]Bank of Communications corporate informationbankcomm.com
The modern Bank of Communications was re-established as a nationwide commercial bank during China’s reform-era financial restructuring.
1908
Bank established
[3]Bank of Communicationsen.wikipedia.org
Bank of Communications was established in China and became an early national joint-stock commercial bank, with historical links to transportation and economic modernization.

Products and positioning

A large, state-controlled and publicly listed Chinese commercial bank combining nationwide corporate and retail banking with cross-border, investment-banking, wealth-management, and digital-finance capabilities.

Commercial banking
Corporate Banking
Bank of Communications provides deposits, working-capital facilities, project and infrastructure finance, syndicated loans, trade finance, cash management, payments, foreign exchange, and other services for corporations, public-sector entities, financial institutions, and institutional customers. The business is designed to support the operating, investment, treasury, and cross-border needs of large and medium-sized enterprises as well as selected smaller businesses.
Consumer banking
Retail Banking
The retail franchise serves individuals through deposits, mortgages, consumer lending, payment accounts, bank cards, personal foreign exchange, wealth management, and digital channels. Its branch network and mobile services support everyday payments and savings, while personal finance and wealth-management products address longer-term investment and protection needs subject to applicable regulation.
Asset management
Wealth Management and Asset Management
The group offers wealth-management and asset-management services to retail, corporate, and institutional clients. Activities may include managed investment products, institutional portfolio services, custody, advisory support, and related distribution. Product availability and legal structure vary by entity and are governed by Chinese financial regulation and applicable risk-disclosure requirements.
International banking
Cross-Border and International Banking
Bank of Communications supports international trade and overseas activity through foreign-currency accounts, trade finance, remittances, foreign exchange, cross-border settlement, offshore and onshore renminbi services, and overseas banking operations. These capabilities serve Chinese companies expanding abroad, foreign companies operating in China, and customers engaged in international commerce.
Financial technology
Digital Banking
Digital banking includes online and mobile account services, payments, transfers, card management, wealth-management access, customer-service tools, and technology-enabled credit and risk processes. Digital channels complement the bank’s physical network and are part of its effort to improve convenience, operating efficiency, financial inclusion, and data-driven service delivery.

Controversies

2025
Bank of Communications Fined and Confiscated About RMB 68.07 Million by Central Bank for 11 Violations
In December 2025, the People's Bank of China published penalty information: Bank of Communications was warned for 11 violations including violating account management regulations and anti-money laundering, had illegal gains of about RMB 239,800 confiscated and was fined RMB 67.8343 million, for total fines and confiscation of about RMB 68.0741 million; 13 responsible persons were fined RMB 4,000 to RMB 170,000. In January 2026, the Shanghai Financial Regulatory Bureau also fined and confiscated about RMB 6.1187 million from Bank of Communications Shanghai Branch and 8 responsible persons for violations including granting credit loans to related parties. It was one of the larger bank fines in 2025, reflecting "institution + individual" penetrating accountability.
Source
2021
Bank of Communications Fined RMB 41 Million for 23 Violations Including Wealth Management and Interbank Business
A review by The Paper of regulatory penalties shows that Bank of Communications was fined RMB 41 million for 23 violations, including unsound wealth management and interbank systems, wealth management funds illegally invested in land reserve projects, and repeated occurrence of problems found in inspections. Progress: media compiled published administrative penalties. Entity involved: Bank of Communications Co., Ltd.
Source
2020
Regulator fines two banks over customer information protection violations
On August 5, the China Banking and Insurance Regulatory Commission disclosed that China Merchants Bank Credit Card Center and Bank of Communications Pacific Credit Card Center had each been fined RMB 1 million for failing to fulfill security-protection obligations concerning customer personal information. The cited violations occurred in 2019.
Source

2026.08.18
Reported2026.08.18
Hilton partners with Bank of Communications and Mastercard to launch co-branded credit cards in China[9]希尔顿集团携手交通银行及万事达卡在中国推出联名信用卡prnasia.com
Hilton announced a strategic partnership with Bank of Communications and Mastercard to launch two Hilton Honors co-branded credit cards in China, the Bank of Communications Hilton Honors Mastercard World Card and the Bank of Communications Hilton Honors Mastercard Beyond Platinum Card, which went live on August 18, 2026.
2021.11.07
Reported2021.11.08
Bank of Communications and China Central Depository & Clearing launch Yangtze River Delta ESG bond index[10]交通银行与中央结算公司发布长三角ESG债券指数finance.cqnews.net
Bank of Communications and China Central Depository & Clearing jointly released the ChinaBond-BOCOM Yangtze River Delta ESG Preferred Credit Bond Index, described as the market's first high-grade Yangtze River Delta ESG-themed bond index.
Unconfirmed
Reported2021.11.02
Bank of Communications launches Mobile Banking 6.0[11]交通银行发布手机银行6.0版finance.sina.com.cn
Bank of Communications held a launch event for Mobile Banking 6.0, an updated mobile banking service with expanded digital service capabilities.
2021.09.13
Reported2021.09.13
交通银行 announces plan for Cross-boundary Wealth Management Connect service[12]交通银行宣布计划推出“跨境理财通”服务finance.people.com.cn
交通银行 said its Guangdong, Shenzhen, Hong Kong and Macau branches would complete required regulatory filings and strive to offer Cross-boundary Wealth Management Connect services to Greater Bay Area residents as soon as possible.
Unconfirmed
Baolong Properties enters into a US$210 million term-loan facility[13]宝龙地产订立2.1亿美元定期贷款融资协议house.jrj.com.cn
Baolong Properties, as borrower, entered into a financing agreement for a 42-month, dual-currency, dual-tranche term-loan facility of up to US$210 million with financial institutions including Bank of China (Hong Kong), Bank of Communications (Hong Kong), Bank of East Asia and HSBC.
2021.06.15
Reported2021.06.15
Entertainment Bao launches film and television protection plan[14]娱乐宝推出影视保障计划finance.sina.com.cn
Entertainment Bao launched a film and television protection plan for online films and series, with insurance coverage for production costs and financing support from financial institutions.
2020.12.08
Reported2020.12.08
Bank of Communications launches fund advisory platform[15]交通银行推出基金投顾服务平台finance.cqnews.net
Bank of Communications launched a fund advisory service platform for individual customers, with three pilot fund advisory institutions able to manage investments and adjustments based on customer mandates.
2020.10.28
Reported2020.10.28
HSBC China and Bank of Communications complete blockchain forfaiting transaction[16]汇丰中国与交通银行完成区块链福费廷跨行交易tech.sina.com.cn
HSBC China and Bank of Communications completed an interbank forfaiting transaction through the China Trade Finance Interbank Transaction Blockchain Platform, marking the first such transaction by a foreign-funded bank in China using the platform.
2020.10.15
Reported2020.10.18
Bank of Communications wins Outstanding Bank Wealth Management Brand award[17]交通银行荣获“年度卓越银行理财品牌”奖finance.sina.com.cn
Bank of Communications won the 2020 China Jinding Award for Outstanding Bank Wealth Management Brand at the 2020 China Financial NBD Summit.
2020.09.04
Reported2020.09.04
Baofeng Energy and Bank of Communications sign a strategic cooperation agreement[18]宝丰能源与交通银行签订战略合作协议finance.sina.com.cn
Baofeng Energy and Bank of Communications signed a strategic cooperation framework agreement in Yinchuan. Bank of Communications said it would provide Baofeng Energy with nine categories of financial services; specific projects would be agreed separately.

Sources60 sources

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Overview

History

Products and positioning

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