knowmyifsc.com

The Bank of China (BOC) is one of the world's most historically significant institutions, tracing its origins to the Da-Qing Bank established in 1905, and formally founded as the Bank of China in 1912 under the Republican government. After a period of serving as the country's central bank and specialized international trade bank, it was restructured into a wholly state-owned commercial bank in 1994, focusing on international finance. The bank's presence in India is relatively recent, with the Bank of China Limited India Branch commencing operations by launching its first branch in Mumbai in June 2019. This branch functions as a modern extension of the parent entity’s vast global network.

The current status of the Bank of China is that of a large, state-owned Chinese multinational banking corporation that is also a publicly traded entity, listed on both the Shanghai and Hong Kong stock exchanges (dual-listed as an A-Share and H-Share). In India, the branch is classified as a foreign bank with branches and operates strictly in compliance with local regulations, providing comprehensive corporate banking, treasury, and branch banking services. Its significance in the Indian financial system is primarily as a crucial financial conduit for Sino-Indian trade, aiming to strengthen economic engagement and encourage cross-border investments between the two nations. Furthermore, the parent bank's designation as a Global Systemically Important Bank (G-SIB) since 2011 anchors the Indian branch's role as a connection point to a globally significant financial power.