BOC Ranks Higher on Banker Magazine's Top 1000 World Banks

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Last updated at: (Beijing Time) Monday, July 01, 2002

BOC Ranks Higher on Banker Magazine's Top 1000 World Banks

The Bank of China (BOC) announced Monday that the London-based Banker magazine has raised BOC's ranking from 18th last year to 11th among its"Top 1000 World Banks"for 2002.

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The Bank of China (BOC) announced Monday that the London-based Banker magazine has raised BOC's ranking from 18th last year to 11th among its"Top 1000 World Banks"for 2002.

The magazine, which annually ranks world banks in term of theirtier-one capital, will publish its latest poll in its July issue.

The bank source said the BOC, China's leading international bank, had won awards from world-famous financial publications suchas Euromoney, Assets and Banker magazines so far this year.

Euromoney magazine just announced that BOC had won "Best Bank in China" for 2002. BOC had also been named "Best Domestic Bank", "Best M&A Bank" and "Best Bank in China" eight times from 1992 to 2001.

Asset magazine, a leading Asian financial journal, gave BOC its"Best Bank in China" award for 2002 in May. The bank has won this title for two straight years.

And the US-based Global Finance magazine selected BOC as China's winner in the world's "Best Foreign Exchange Banks" and "Best Trade Finance Bank".

The bank source also discloses that the General Administration of Industry and Commerce of China granted its "Famous Trademark" to BOC, the only financial institution in China to have won such an award.

As the most internationalized commercial bank in China, BOC hasbeen listed among the Fortune Global 500 for 12 consecutive years.

In 2001, BOC made a pretax profit of 10.91 billion yuan (1.3 billion US dollars), ranking first among China's four leading state-owned commercial banks.

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