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China Securitization Awards

Most innovative bank 2021

Bank of Communications

Bank of Communications has led or jointly led many landmark deals in China since it received its first ABS underwriting licence in 2013, and its peers, including foreign firms, have noticed.

“Among the banks, BoCom is very advanced in terms of innovation, and I’ll always choose to work with them,” says a banker at an international rival.

That validation is reflected in the kinds of deals and clients BoCom worked with during Asiamoney’s awards period, as it continued to bring new originators, products and structures to the market. These included two green deals supporting China’s ambitious climate initiatives. Beijing has promised the country will reach peak carbon emissions by 2030 and become carbon neutral by 2060.

One of the green deals was an asset-backed note (ABN) issued in March 2021 by Nanjing Public Transportation (Group) Co, where BoCom was the joint lead underwriter. The Rmb1.7 billion ($267 million) transaction is expected to contribute to an annual reduction of carbon dioxide emission of 1.07 million tonnes and of carbon monoxide emissions of 40.84 tonnes, while saving 505,000 tonnes of coal.

BoCom was the lead bank on China Three Gorges Renewables (Group) Co’s Rmb1.115

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