BOC Hong Kong Holdings Ltd 02388.HK

BOC HONG KONG (02388.HK) is the Hong Kong subsidiary of the Bank of China, which established its first branch in the then British colony in 1917. It was the first branch of a Chinese state-owned bank in Hong Kong. In 1964, the Bank of China established an official subsidiary, Po Sang Bank, and in 2001, after Hong Kong was handed back the PRC, it was renamed BOC Hong Kong after a merger between Po Sang and 11 other Hong Kong-based subsidiaries and associates of BoC.

Today, BOC Hong Kong is one of the largest commercial banks in the territory and one of only three banks with a licence to issue Hong Kong dollar banknotes. The bank provides retail, commercial and investment banking services as well as mortgage products, finance, insurance, private banking and wealth management products and services.

BOC Hong Kong is listed on the Hong Kong Stock Exchange and is a component of the Hang Seng index. American depository receipts of the shares are also traded on the OTC market in the US. The 2002 listing of Bank of China Hong Kong Holdings marked the first listing of a Chinese mainland-owned bank on an overseas stock exchange.

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