The Bank of China is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, replacing the Qing Dynasty's Ta-Ching Government Bank.

Revenue(RF), mln.USD
192
Glob.Revenue, mln.USD
87917
Capital(RF), mln.USD
471
Assets(RF), mln.USD
5357
Taxes(RF), mln.USD
25

Bank of China restricts Russian transfers of yuan to E.U., U.S. Bank of China (BoC) — China's third-largest bank by assets — introduced restrictions on payments in yuan for Russian clients. The three largest banks in China have stopped accepting payments from Russian sanctioned financial organizations, Izvestia found out. We are talking about Industrial and Commercial Bank of China (ICBC), China Construction Bank and Bank of China. This decision is associated with the risks of secondary sanctions. Bank of China suspends operations with Russian banks from the US SDN List

The Company Statement
September 03, 2023

Initially ceased financing of deals involving Russian commodities. The largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. There are four banks with Chinese capital operating in Russia. The two largest Russian banks owned by Chinese credit organizations are Bank of China (101.5 billion rubles of assets as of January 1, 2022) and ICSIB Bank (93.8 billion rubles of assets). They belong to the largest financial groups of the PRC — Bank of China and Industrial and Commercial Bank of China (ICBC), respectively. Their Russian "daughters" increased their assets several times in 2022, and the profit - tens of times. Bank of China restricts Russian transfers of yuan to E.U., U.S. Bank of China (BoC) significantly increases its capital, assets and Net profit in Russia in 2022 vs 2021. The Central Bank has set individual values for capital adequacy ratios for two Chinese banks, which are 1.5-3 percentage points lower than the minimum required in the Russian Federation. Without waiting for the expiration of its license, Bank of China, one of the largest Chinese banks, which acted as a clearing agent, that is, de facto carried out all yuan transactions, refused to work with the Moscow Exchange.

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June 24, 2024Bank of China suspends operations with Russian banks from the US SDN List
June 24, 2024Russian subsidiary of Bank of China stops accepting payments from Russian banks, sources say
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February 21, 2024Commission without transfer: the three largest banks in China stopped accepting payments from the Russian Federation
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June 18, 2023Bank of China restricts Russian transfers of yuan to E.U., U.S - Meduza
June 18, 2023One of the largest banks in China has limited payments in yuan for Russian clients
April 17, 2023Chinese spurt: major banks from China have dramatically increased their business in Russia
March 04, 2022China-led development bank halts business in Russia, Belarus
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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