Operations
BOCHK offers a comprehensive range of financial products and services to retail and corporate customers, similar to those offered by most commercial banks. It is primarily known for its interest-income business (taking deposits from retail customers for loans to corporates) although it has been moving into other non-interest-income areas such as personal loans, wealth management and other financial services in recent years. It has Hong Kong's biggest branch network (over 200 branches) and 450 automatic teller machines.
BOCHK is the biggest mortgage lender in Hong Kong in the secondary market; Hang Seng Bank is the biggest in the primary market. BOCHK resells the casualty insurance, life insurance, mandatory provident fund (MPF) and asset management services of various subsidiaries of its parent, Bank of China.
Within Mainland China, BOCHK operates 14 branches (as of January 2005) separately from its parent. BOCHK is treated as a foreign bank, more properly, 境外銀行 (banks outside of the territory), for regulatory purposes as it is incorporated in Hong Kong. However, partly in order to clear up confusion between it and its parent in the mainland, it shifted all of its mainland-based business to Nanyang Commercial Bank in 2007.
Read more about this topic: Bank Of China (Hong Kong)
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