Bank Of China Singapore

Did you know?

BOC Singapore introduced its first credit card back in 1993 and named it the Dragon Card. For this card, the bank won an award for the Best Card Promotion at the Asia-Pacific Annual Meeting of MasterCard in 1994. The Singapore branch of BOC was awarded Qualifying Full Bank Licence on 5 October 2012. This bank acts as a link between China and Singapore, offering various benefits to people in Singapore who have their roots in China.

BOC’s Founding Story

BOC was established in the year 1912 by the then government of China. The bank served as the central bank of the government until 1928 when it was turned into a government-authorised international exchange bank. In 1942, it was again restructured to create a specialised international trade bank.

In 1949, the bank was acquired by the new government of People’s Republic of China. A few years later, it was again reorganised as a specialised foreign exchange bank.

In the subsequent years, the bank continued to go under various restructurings until 1994 when it was finally transformed into a state-owned commercial bank

In 2006, the bank was listed on the Shanghai Stock Exchange and the Hong Kong Exchange and Clearing Limited.

History of BOC in Singapore

BOC began its operations in Singapore in 1936 and it also holds the Qualifying Full Bank license. In Singapore, BOC offers a wide range of products and services to its customers. The bank also offers a wide range of RMB services in the form of remittance, deposit, cash exchange, loans and more. The core businesses of BOC in Singapore include investment banking, investment advisory, corporate lending, trade finance, securities investment, structured finance and more.

Global Footprints

BOC is one of the most globalised banks in China and has its presence in almost all parts of the world. The bank established its first overseas branch in London. Over a period of time, the bank expanded its services to all major financial centres of the world such as New York, Singapore, Tokyo and more. Currently, the bank offers a wide range of financial services to customers through its vast network across China, Macau, Hong Kong, Taiwan and 31 other nations.

Performance of Bank Of China in Singapore

Here is a detailed list of the financial highlights of BOC for the year 2017:

  • Operating Income: RMB483,761 million
  • Operating Profit: RMB221,741 million
  • Profit for the year: RMB184,986 million
  • Earnings Per Share: RMB0.56
  • Return on Assets: 0.98%
  • Return on Equity: 12.24%
  • Net Interest Margin: 1.84%
  • Cost to Income Ratio: 28.34%
  • Non-interest Income to Operating Income: 30.05%

BOC’s Product Portfolio in Singapore

  • Credit/Debit Cards
    • BOC Zaobao Credit/Debit Card
    • BOC Family Card
    • BOC Chinese Cultural Credit Card
    • BOC Sheng Siong Card
    • BOC Visa Infinite Card
    • BOC Dual Currency Diamond Card
    • BOC UnionPay Dual Currency Debit Card
    • BOC F1RST Card
    • BOC Shop! Card
    • BOC Travel Card
    • BOC World MasterCard
    • Bank of China Great Wall International Debit Card
    • BOC Great Wall Platinum Card (Visa/Mastercard)
    • BOC Great Wall UnionPay Platinum Card
    • BOC SCCCI Great Wall Affinity Card Platinum
    • BOC Chinese Scholars & Students Association Platinum Elite Card
  • Wealth Management
    • RMB Funds
    • Insurance
    • Unit Trusts
  • Deposits
    • BOC SmartSaver
    • Gold Savings Account
    • SGD Savings Account
    • Current Account
    • Multi-Currency Savings Account
    • Time Deposit Account
    • RMB Current Account
    • RMB Time Deposit
  • Personal Loans
    • MoneyPlus Fund Transfer
    • MoneyPlus Line of Credit
    • MoneyPlus Term Loan
    • Overdraft Facility
    • BOC $martLoan
    • BOC Debt Consolidation Plan
    • Mortgage Loans
  • Remittance and Exchange
    • BOC SmartRemit
    • RMB Exchange
    • Foreign Exchange
    • Currency Exchange
    • International Remittance- Outward
    • International Remittance- Inward
    • RMB Pre-Settlement Remittance
  • Other Services
    • BOC SMS Alerts Service
    • BOC Safe Deposit Box
    • RMB Products and Services
    • Account Opening Witness Services
    • Banker’s Guarantee

Awards

  • BOC got the Business China Enterprise Award 2016 on 22 November 2016. When BOC received this award, it became the first Chinese organisation to be honoured with this award.
  • Best International Bank by Global Finance.
  • Best Bond Adviser (Global) by The Asset.
  • Best Overall Chinese Bank for BRI by Asiamoney.
  • Best Regional Cash Manager in Asia by Euromoney.

Social Responsibility and Sustainability Initiatives

  • Co-ordinated development of the Beijing-Tianjin-Hebei region
  • BOC gave financial support to development projects in the Beijing-Tianjin-Hebei belt, with a loan balance of RMB277.2 billion. A total of 241 projects were put into operation during the year, amounting to RMB119.6 billion.

  • Development of the Yangtze Economic Belt
  • BOC offered RMB66.38 billion for the “Yangtze Economic Belt” projects spread across 11 municipalities and provinces along the Yangtze River.

  • Building of the Hong Kong-Zhuhai-Macau Bridge Project
  • BOC gave financial support for the construction of the Hong Kong-Zhuhai-Macau Bridge. BOC offered loans worth RMB10.506 billion which are more than half of the entire cost of production.

Where to Go If You Want to Withdraw Cash [ATM Network]

BOC has branches in the following places in Singapore:

Branch Location Address
Ang Mo Kio Sub-Branch 53 Ang Mo Kio Avenue 3, #03-02 AMK Hub, Singapore 569933
Tiong Bahru Sub-Branch 302 Tiong Bahru Road, #01-127 Tiong Bahru Plaza, Singapore 168732
Punggol Sub-Branch 83 Punggol Central, #01-16 Waterway Point Shopping Centre, Singapore 828761
Bedok Sub-Branch 311 New Upper Changi Road, #B2-07 Bedok Mall, Singapore 467360
Toa Payoh Sub-Branch 600 Lorong 4 Toa Payoh, #01-03, Singapore 319515
Woodlands Sub-Branch 1 Woodlands Square, #B1-12 Causeway Point, Singapore 738099
Jurong East Sub-Branch 3 Gateway Drive, #04-30/31 Westgate, Singapore 608532
Jurong West Sub-Branch 1 Jurong West Central 2, #01-17 Jurong Point Shopping Centre, Singapore 648886
Tampines Sub-Branch 10 Tampines Central 1, #B1-21/22 Tampines 1, Singapore 529536
North Sub-Branch 133 Middle Road, BOC Plaza, Singapore 188974
Katong Sub-Branch 188-192 East Coast Road, Singapore 428898
Chinatown Sub-Branch 60 Eu Tong Sen Street, #01-01 Furama City Centre, Singapore 059804
Main Branch 4 Battery Road, Bank of China Building, Singapore 049908

BOC has ATMs in the following places in Singapore:

ATM Location Address
Junction 8 9 Bishan Place, #01-K13 Junction 8, Singapore 579837
Hillion Mall 17 Petir Road, Basement 2, Hillion Mall, Singapore 678278
China Cultural Centre 217 Queen Street, Singapore 188548
Ngee Ann City 391 Orchard Road, Basement  2 near #B2-12/14, Takashimaya Shopping Centre, Ngee Ann City, Singapore 238873
Nex 23 Serangoon Central, #03-K25Nex, Singapore 556083
Hougang Mall 90 Hougang Avenue 10, Level 4 Wall Space outside Food Court, Hougang Mall, Singapore 538766
Changi Airport Terminal 3 65 Airport Boulevard, Arrival Hall South, Singapore 819663
Changi Airport Terminal 2 60 Airport Boulevard, Arrival Hall North, Singapore 819643
Marina Bay Sands #L1-I2, The Shoppes at Marina Bay Sands, Singapore 018972
Resorts World Sentosa 26 Sentosa Gateway, B1 Forum, Resorts World Sentosa, Singapore 098138
Ang Mo Kio Sub-Branch 53 Ang Mo Kio Avenue 3, #03-02 AMK Hub, Singapore 569933
Tiong Bahru Sub-Branch 302 Tiong Bahru Road, #01-127 Tiong Bahru Plaza, Singapore 168732
Punggol Sub-Branch 83 Punggol Central, #01-16 Waterway Point Shopping Centre, Singapore 828761
Bedok Sub-Branch 311 New Upper Changi Road, #B2-07 Bedok Mall, Singapore 467360
Toa Payoh Sub-Branch 600 Lorong 4 Toa Payoh, #01-03, Singapore 319515
Woodlands Sub-Branch 1 Woodlands Square, #B1-12 Causeway Point, Singapore 738099
Jurong East Sub-Branch 3 Gateway Drive, #04-30/31 Westgate, Singapore 608532
Jurong West Sub-Branch 1 Jurong West Central 2, #01-17 Jurong Point Shopping Centre, Singapore 648886
Tampines Sub-Branch 10 Tampines Central 1, #B1-21/22 Tampines 1, Singapore 529536
North Sub-Branch 133 Middle Road, BOC Plaza, Singapore 188974
Katong Sub-Branch 188-192 East Coast Road, Singapore 428898
Chinatown Sub-Branch 60 Eu Tong Sen Street, #01-01, Furama City Centre, Singapore 059804
Main Branch 4 Battery Road, Bank of China Building, Singapore 049908
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