Best bank 2025: BOC Macau
BOC Macau claims the title of Macau SAR’s best bank due to its dynamic performance across various strategic and operational fronts.
The bank’s exceptional penetration in mobile banking is evident, with users reaching 680,000 in 2024, practically mirroring the total population of Macau. Its BOC PAY platform processed transactions valuing over P7.9 billion ($1 billion) and managed to secure a 26.1% market share with over 40 million transactions.
BOC exhibits a strong commitment to educational and eldercare financial services, managing significant proportions of monetary distributions including teacher payroll services and allowances for pupils and senior citizens. Remarkably, the bank covers 80% of educational institutions and controls more than 50% of the market in pension distributions.
Innovation remains a vital cornerstone, with BOC pioneering the issuance of the world’s first “Belt and Road” sustainable development bonds in 2024, raising Rmb1 billion ($139 million), and arranging a substantial Rmb15 billion offshore syndicated loan for a major privatisation acquisition. The bank also launched customer-oriented offerings in the burgeoning Shenzhen-Zhuhai-Macau Greater Bay Area.
Financially, BOC achieved impressive growth in 2024, with a 37.58% increase in operating income and a doubling of profit before taxation. Its market share of total assets and deposits stood at 38.31% and 37.82%, respectively.
On the ESG front, the bank’s Green E-Loan product increased by P25 million year-on-year by the end of 2024, with revenue increased by 18.7% year-on-year.
Extensive adoption of cutting-edge technologies like robotic process automation in daily operations underpins its commitment to digital transformation, enhancing efficiency and customer service excellence.
