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.

June 24, 2024Bank of China suspends operations with Russian banks from the US SDN List
May 27, 2024"There's less and less hope." Putin's visit to China did not improve the situation with payments
May 13, 2024A number of banks under the control of non-residents accrued dividends in 2023
April 12, 2024Variable situation: banks in China are introducing new conditions for payments from the Russian Federation
February 21, 2024Commission without transfer: the three largest banks in China stopped accepting payments from the Russian Federation
September 04, 2023FT: China’s share in the Russian banking sector has quadrupled since the beginning of the CBO – Kommersant
August 14, 2023The Central Bank has found a special approach to Chinese banks
August 02, 2023Direct transfers to China in Bank "Primorye"
August 02, 2023Direct transfers to China in Bank "Primorye"
July 12, 2023Chinese subsidiaries in Russia sharply increased lending to banks during the crisis Their share in this market increased almost fivefold
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
February 01, 2023China, Turkey and UAE do not want to work with sub-sanctioned Russian banks - vice president of Rosbank
March 04, 2022China-led development bank halts business in Russia, Belarus
All company names used on this web page are for identification purposes only. All trademarks and registered trademarks are the property of their respective owners.
Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
Scanner