INTRODUCTION
Founded in 1908, Bank of Communications (BOCOM) is a time-honored financial brand in China and Worldwide. The bank is one of the oldest banks in China and one of the earliest note issuing banks in modern China.
In recent years, through several major revolutionary measures: financial restructuring, introducing foreign strategic partner, public listing in Hong Kong and Shanghai, the bank has achieved continuous and steady growth, even in the global financial crisis. And now the bank’s development strategy is to become a “first-class publicly-listed universal banking group with niche in wealth management and aim for international expansion”.
As of September 2010, the total as sets of BOCOM reached RMB3.8 trillion (approximately VND12000 trillion). With nearly 2700 operating outlets providing financial services for over 660 thousand corporate institutional customers and for 55 million individual customers, we are much honored to be included in the “Fortune 500” , “The World’s Top 50 Banks” and “Top 20 Banks in terms of Profitability”. In additional when during Shanghai Expo, as the only global bank partner of this grand ceremony, we provided comprehensive financial services for all the guests come to the Expo.
In the long history of BOCOM, the bank always focuses on international expansion. As early as 1909, the next year after the bank’s establishment, we set up Saigon (later the “Ho Chi Minh” city) Representative Office in Vietnam. Date to 1939, we have a branch in Saigon, a sub-branch in Hai Phong, and a liaison office in Lang Son respectively. At present, BOCOM has 7 overseas branches in Hong Kong, New York, Tokyo, Singapore, Seoul, Frankfurt and Macau and 3 representative offices in London, Sydney and Taipei. These branches provide services in various areas including banking, securities, insurance, all together contributing over USD35 billion (approximately VND731 trillion) to our total assets. Ho Chi Minh City branch is the 8th overseas branch of BOCOM.
With great effort and strong support from Vietnamese government and central bank, BOCOM officially obtained the approval from State Bank of Vietnam on 26th Oct 2010 for setting up a Branch in Ho Chi Minh City. The establishment of the Ho Chi Minh City branch is a major step forward in shaping Bank of Communications ’s global network which is Asia-Pacific focused with coverage extending to Europe and North America. The bank’s return to Vietnam is also a substantial move to serve the economy of China and Vietnam more closely, conveniently and comprehensively, which, undoubtedly will make remarkable contributions to the economic and trade ties between two economies.
Bank of Communications Ho Chi Minh City Branch celebrated its grand opening on 28th February 2011. We are mainly engaged in conducting wholesale business and providing financial services for enterprises and public institutions, and also support personal banking services. Our business covers: bank deposits, money remittances, loans, trade and non-trade settlements, bank guarantees, financial management and securities investment.
