bank of china

The Bank of China (BOC; Chinese: 中国银行; pinyin: Zhōngguó Yínháng; Portuguese: Banco da China) is a state-owned Chinese multinational banking and financial services corporation headquartered in Beijing, China. It is one of the "big four" banks in China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalization value,[7] and it is considered a systemically important bank by the Financial Stability Board. As of the end of 2020, it was the fourth-largest bank in the world in terms of total assets, ranked after the other three Chinese banks.[8]

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bank of china SWIFT Code

Country

City

Bank or Institution

SWIFT Code

China

SHBCCNSH

Total: 1
1

About bank of china

Company type
Public State-owned
Industry
Financial services
Founded
1905 ; 120 years ago ( 1905 ) (as Da-Qing Bank ) 1912 ; 113 years ago ( 1912 ) (as Bank of China) 1979 ; 46 years ago ( 1979 ) (re-established)
Headquarters
Beijing , China [ 1 ]
Key people
Ge Haijiao ( Chairman & President )
Products
Consumer banking corporate banking investment banking insurance private banking private equity mortgage loans credit cards investment management wealth management asset management mutual funds exchange-traded funds index funds
Revenue
CN¥ 503.81 billion $73.23 billion [ 2 ] (2018)
Number of employees
306,322 [ 4 ] (2021)
Website
boc.cn bankofchina.com bank-of-china.com bocusa.com

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.

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Frequently Asked Questions

1. Why does bank of china have different SWIFT Codes?

bank of china operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process bank of china's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of bank of china to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of bank of china, you can log on to the official website of bank of china, or search the current page of XTransfer, or call bank of china to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like bank of china?

Usually, SWIFT Code consists of 8 or 11 characters. For bank of china, the first 4 digits represent the bank code, which is the same for bank of china worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for bank of china be updated or changed?

Yes. When bank of china undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where bank of china is located, its SWIFT Code may be updated and changed. bank of china will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of bank of china in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of bank of china support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of bank of china supports the corresponding business.