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Bank of China (Hong Kong)

Bank of China (Hong Kong)

Banking and financial services company

Bank of China (Hong Kong) Limited (also known as its short name Bank of China (Hong Kong) or BOCHK, is a subsidiary of the Bank of China (via a Hong Kong-listed intermediate holding company BOC Hong Kong (Holdings)). Bank of China (Hong Kong) is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits (2008 data), with more than 190 branches across Hong Kong as of the end of 2019. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar.

BOCHK is legally separated from its parent, Bank of China (BOC), although they maintain close relations in management and administration and co-operate in several areas including reselling BOC's insurance and securities services. BOCHK is also the biggest member and a founder of the JETCO ATM and payment system, and the designated clearing bank in Hong Kong for transactions involving the Renminbi (RMB / CNH).

BOCHK was established on 1 October 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed on the Hong Kong Stock Exchange in October 2002. As of the end of 2019, the bank had HKD3,026 billion in assets and operating profit of HKD39.8 billion. Its head office is in the Bank of China Tower in Central, Hong Kong. The head office is shared with the Hong Kong units of its parent company; completed in 1988, and was the first building outside of North America to exceed 1,000 feet (300 m).

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