World's best bank in the emerging markets 2019: Bank of China
If China is to have a leader in banking on the global stage, it is likely to be the internationalist Bank of China.
Awards for Excellence 2019
The expansion of Chinese infrastructure through the Belt and Road Initiative; the internationalization of the renminbi; the growth of China-based multilaterals on the world stage: these are key themes that are shaping global finance – and will continue to do so.
Of all the mainland enterprises, Bank of China is the best positioned to benefit and assist.
More than a century old on the mainland, Bank of China also has the greatest international reach of all the Chinese banks. It is present in 57 countries, and its overseas operations contribute more than a quarter of group profits.
This global scale has its most obvious benefit as an intermediary for the BRI, since it is present in 24 BRI countries. It would be wrong, though, to consider it as an institution blindly funding frontier market projects regardless of their long-term sustainability: that’s more a role for policy banks such as Export-Import Bank of China and China Development Bank.