Future Development of Bank of China - Assignment Example

BOCHK being the clearing bank for RMB denominated business in Hong Kong proactively developed its policies and report growth in deposits by 58.5% along with a 24.6% increase in terms of issuing the number of RMB credit cards. (Bank of China, CSR, 2008)1 BOCHK also won the 'Sing Tao Excellent Services Brand Award 2009' in the field of mortgage services which is the leading provider of local mortgage services. (www.bochk.com)2 The organization recruits talent from a variety of professional and educational backgrounds by hiring new graduates.

The bank strives hard to increase the proportion of local employees at BOCHK and it is reported that 98.21% of the employees working were local citizens, the trend which is increasing year after year significantly. The organization promotes equal employment opportunity giving importance to health, encouraging the workforce through effective incentives, career development and training, and advocates a corporate culture of honesty and integrity, performance, accountability, creativity, and harmoniousness.

With such good track record of increasing trends in financial reports, BOCHK is the leader in the market which is revealed by the banks future strategy for the balanced business and regional development strategy through optimizing its business, customer and revenue structures by taking advantage of market adjustments. (Annual Report, 2008)3 With regard to the strategy of its regional development and the banks' objectives of providing local citizens more opportunities, working for the Bank of China, Hong Kong is profitable as it provides scope for growth, good corporate culture and motivation through training and development.