Don’t think that Bank of China is only suitable for people and businesses of Chinese background. Bank of China has been in Australia since 1942 and is one of the largest foreign bank lenders to corporate Australia (their yearly lending to corporate Australia is more significant than Citibank, HSBC and ING for comparison). As with the rise with China, Bank of China has a lot of capital as one of the largest banks in mainland China and is keen to lend it out. It is now making a real push into the Australian home loan market with one of the most competitive interest rates offered by a deposit-taking institution. Bank of China is considered to be a conservative bank and will not be one of the most lenient when it comes to serviceability and borrowing limits. Their processes are still relatively new, and hence we wouldn’t recommend them being the only bank you approach if you are looking to bid at auction or negotiate with a vendor very soon. However, if they do get there into time, they will be offering one of the sharpest rates. Bank of China has the potential to be one of the largest non-major lenders in Australia given its capital backing, Australia’s closeness with China and the growing Chinese community. It is unlikely to be the most innovative lenders but is willing to be price competitive for lower risk borrowers.