From Bloomberg:
China Construction Bank Corp., the nation’s fourth-largest lender, plans to make acquisitions and open branches in the U.S. and Australia as it seeks expansion outside of its home market.
The Beijing-based lender will also strengthen its foothold in Frankfurt and South Africa, where it operates two branches, Zhang Jianguo, 52, president of Construction Bank, said in an interview in Hong Kong today.
“We aim to become a top-notch one-stop bank in the world, serving an increasing number of Chinese companies and people overseas,” Zhang said. “Without an extensive distribution network, we won’t be able to honor that promise. The board has agreed to add more outlets and make suitable acquisitions.” [Full Text]
