BOC Fullerton Village Bank
BOC Fullerton Village Bank is a joint venture between the Bank of China and Fullerton Financial Holdings, a wholly owned unit of Temasek Holdings. The JV will focus on setting up banks in rural sectors of China. The JV is expected to run 400 village banks and have an estimated 14,000 employees. The BoC will hold the controlling stake and Temasek will hold around 20%. The joint venture is estimated to have $2.9 billion (CY 20 billion).