BBYB 2019

Borneo Bulletin Yearbook 2019

Bank of China

Bank of China was established in Hong Kong in 1917. A

subsidiary of Bank of China Group, Bank of China (Hong

Kong) Limited (BOCHK) manages the financial giant’s

global operations. With a history of over 100 years,

BOCHK is the second largest commercial banking

group operating in Hong Kong. The bank has branches

and representative offices in 49 countries.

Further expanding its influence in Southeast Asia,

BOCHK opened its first branch in Brunei in December

2016. The bank offers comprehensive banking services

to individuals and corporations, including corporate

banking, personal banking, RMB services, cash

management, trade finance and non-bank financial

institution and public sector services.

Following Chinese investments into Brunei, the

establishment of a BOCHK branch in Brunei was

another sign of Brunei and China’s strong bilateral

relations, especially in trade and finance. It also

illustrated BOCHK’s efforts to expand into the ASEAN

market, a key region in China’s ‘One Belt, One Road’

(OBOR) initiative.

In January 2018, BOCHK celebrated the first

anniversary of its Brunei branch. On the subject of

economic diversification, General Manager of the

bank’s Brunei operations Wang Xiaolin said the bank

hopes to create more business opportunities for local

development and new banking experiences for the

local community.

Bank Usahawan

Bank Usahawan works closely with DARe (Darussalam

Enterprise), Made in Brunei and Universiti Brunei

Darussalam’s Entrepreneurship Village. Their focus is

entrepreneurs. Bank Usahawan does not offer retail

services, deposits and credit cards. They are an equity

finance from the Ministry of Finance, with the aim of

helping to diversify the economy.