The China Construction Bank
(CCB) SEHK: 0939 is one of the "big four" banks in the People"s Republic of China.
CCB was founded on October 1, 1954 under the name of "People"s Construction Bank of China" (中国人民建设银行; Zhōngguó Rénmín Jiànshè Yínháng), and later changed to "China Construction Bank" on March 26, 1996.The chairman, Zhang Enzhao, resigned on March 16, 2005, citing "personal reasons". However, a lawsuit in the United States alleges that he received a bribe of one million dollars from Alltel Information Services, for securing a contract.
China Construction Bank Corporation was formed as a joint-stock commercial bank in September 2004 as a result of a separation procedure undertaken by their predecessor, China Construction Bank, under the PRC Company Law. Following the China Banking Regulatory Committee"s approval on September 14, 2004, Jianyin and Huijin entered into a separation agreement, dated September 15, 2004, pursuant to which China Construction Bank was separated into their bank and Jianyin.
Investment by Bank of America
In 2005, Bank of America acquired a 9% stake in China Construction Bank for $3 billion. It represented the company"s largest foray into China"s growing banking sector. Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and is looking to greatly expand its Chinese business as a result of this deal.
International Expansion
In 2006, CCB acquired Bank of America (Asia), which started in 1912 in Hong Kong as Bank of Canton, and which has a subsidiary in Macao.
Stock Exchange Listing
In late 2005, China Construction Bank made an initial public offering on the Hong Kong Stock Exchange (SEHK:0939). Since its listing, the share price has risen about 50% (since Feb 2006).
| Shareholders" Profile | |
 | China Construction Bank Corporation initially known as the People"s Construction Bank of China, was incorporated on 1/10/1954, changed its name to China Construction Bank on 26/3/1996 and subsequently changed to present name on 21/9/2004. As one of the leading banks in the domestic banking sector, China Construction Bank Corporation retains leadership roles in key market segments in the areas of corporate banking, retail banking and investment banking services. The Bank continues to pursue innovative banking services such as online banking to maintain a competitive edge. According to its Annual Report of 2005, China Construction Bank Corporation had total assets amounted to RMB 4,585.7 billion and an extensive network of 13,977 branches in China supported by a staff force of 300,288. And its total loans portfolios and customer deposits amounted to RMB 2,458.4 billion and RMB 4,006 billion respectively. |
| Business Areas of China Construction Bank (Asia) Limited |
| China Construction Bank (Asia) Limited ("the Bank") plans to develop business in areas in which China Construction Bank Corporation("CCB") has competitive advantage and experience including commercial loans, trade finance, mortgage loans, and infrastructure and project finance. CCB is one of the leading banks in the domestic banking sector with solid connections and an extensive branch network in China. Given the ever increase trend of business activities between Hong Kong and China, the Bank"s customers will enjoy substantial competitive advantages in their future growth and expansion plans connecting the two markets through their relationship with the CCB group. The principal products and services offered by the Bank cover the followings: |
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