bank of china-unspn adr (BACHY) Key Developments
Bank of China's Singapore Unit Set Ups Branches
Apr 18 15
Bank of China (BOC) is expanding its presence with more branches and a freshly inked deal with Singapore Exchange to roll out more yuan-denominated financial instruments. BOC said that its Singapore unit has set up one new branch at Westgate in Jurong East and another at Causeway Point in Woodlands, bringing the total number of branches islandwide to eight.
Bank of China, BOC International Holdings Limited and Singapore Exchange Expand Collaborations on RMB and Market Developments
Apr 17 15
Singapore Exchange (SGX), Bank of China (BOC) and BOC International Holdings Limited (BOCI) are extending their collaboration on Renminbi (RMB) initiatives and embarking on joint activities that will contribute to the growth of both financial markets. The respective framework for collaboration were signed in Singapore and witnessed by Mr. Chen Siqing, President of BOC and Mr. Magnus Böcker, CEO of SGX in Singapore. The collaboration is an extension of BOC and SGX's Memorandum of Understanding (MOU) first signed in 2013, which will increase their cooperation to strengthen the RMB infrastructure in both markets. This will include more RMB-denominated products and solutions, such as the development of RMB-denominated commodities and derivatives contracts, as well as enhancing RMB clearing and settlement services. BOC is SGX's first Chinese settlement bank for its derivatives market and a pioneer market maker for SGX's RMB currency futures. Since the launch in October 2014, SGX RMB futures has successfully traded a total notional value of CNY 35 billion. Under the framework for collaboration signed, BOCI and SGX will provide customers with greater access to growth opportunities in China and Singapore markets, through joint marketing. This is BOCI's first comprehensive collaboration inked with an exchange, and will see BOCI take up SGX memberships and market making arrangements.
Bank of China Limited to Open Eight Branches Abroad in Hungary, Poland and Indonesia
Apr 2 15
Bank of China Limited planned to open eight branches abroad in Hungary, Poland and Indonesia, still needing approval from Chinese and local government.
Bank of China Limited Announces Resignation of Zhu Shumin as Executive Vice President
Apr 2 15
The board of directors of the Bank of China Limited received the resignation letter from Mr. Zhu Shumin. Mr. Zhu Shumin resigned as Executive Vice President of the Bank due to the change of job. The resignation shall become effective as of 2 April 2015. Mr. Zhu Shumin has confirmed that he has no disagreement with the Board, and there are no matters that need to be brought to the attention of the shareholders of the Bank.
Bank of China Announces Resignation of Chim Wai Kin as Chief Credit Officer
Mar 27 15
Bank of China Limited announced that the term of employment of Chief Credit Officer of the Bank, Mr. Chim Wai Kin, has expired on 26 March 2015, and he has since then ceased to hold office as Chief Credit Officer of the Bank.