BOC International’s investment risk is limited, profitability stable: report

Its brokerage income has remained stable in the pats 4 years.

BOC International (BOCI), an investment banking and securities brokerage firm, is expected to maintain its low leverage and risk appetite.

BOCI’s investment risk is limited, with securities investments accounting for 17% of total assets as of end-2024, said Moody’s Ratings in a ratings report published on 10 July 2025, where it gave BOCI a Baa3 standalone assessment.

“BOCI's Baa3 standalone assessment reflects its low leverage, low risk appetite, and sound profitability. These strengths are partially offset by its reliance on short-term funding, which constrains its funding and liquidity profile,” the ratings agency said.

A Baa3 rating equates to a medium-grade investment with moderate credit risk. It is  the lowest rating within Moody's investment-grade scale.

BOCI’s profitability is expected to remain stable.

Its brokerage income has remained stable, generating approximately HK$2b annually over the past four years; and accounting for around 50% of total revenue in 2024.

BOCI is also expected to enjoy a very high level of support from both BOC and the Chinese government if needed, at least over the next 12 to 18 months.

BOCI is a wholly owned investment banking subsidiary of Bank of China. It provides financial services including brokerage, corporate finance, financial advisory, commodities, structured finance, asset management, and research in capital markets.