About China Construction Bank Corporation
The history of China Construction Bank Corporation (CCB), today one of the four largest commercial banks in China, dates back to 1954 when the People’s Construction Bank of China was founded. This entity was renamed China Construction Bank in 1996. CCB was formed in September 2004 when it separated from its predecessor, China Construction Bank, and assumed its commercial banking business and related assets and liabilities. Headquartered in Beijing, CCB had a network of 13,629 branches and sub-branches in Mainland China as of the end of 2006, and maintained overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul, representative offices in London and New York. The Bank holds 100% interest of China Construction Bank (Asia) Corporation Limited and China Construction Bank (Asia) Ltd. as well as 75.1% of Sino-German Bausparkasse and a 65% interest in CCB Principal Asset Management Co. Ltd. It has a total of 297,500 staff.
In July 2006, CCB was ranked first among all Mainland Chinese banks and 11th among all banks worldwide on the “Top 1000 World Banks in 2005” listings compiled by The Banker magazine, based on the tier-one capital of the banks worldwide. It became the first H-share constituent of the Hang Seng Index on September 11, 2006. In November 2006, CCB ranked fourth in the “2006 Asian Banks Competitiveness Ranking” jointly announced by 21st Century Business Herald , the Faculty of Business Administration of the Chinese University of Hong Kong, and Guanghua School of Management of Peking University – making it the most competitive bank in Mainland China. CCB also won the “Most Responsible Corporate Citizen in China 2006” in an event hosted by China News Weekly and the Red Cross Society of China, and was recently named “Best Domestic Bank in China 2006” by the Asset magazine.
A wholly-owned subsidiary of China Construction Bank (CCB), China Construction Bank (Asia) Corporation Limited has 14 branches in Hong Kong and through its subsidiary company, China Construction Bank (Macau) Corporation Limited, 3 branches in Macau. Formerly known as Bank of America (Asia), the Bank was acquired by CCB on December 29, 2006 and changed its name to China Construction Bank (Asia) Corporation Limited on December 30, 2006. It offers a wide array of consumer, retail and commercial banking products and services. Consumer banking services include conventional transactional, foreign exchange and cash services, as well as tailor-made deposits, loans, investments, consolidated banking, insurance and electronic banking services to meet the various needs of individual customers. Retail and commercial banking customers enjoy a host of financial services covering a wide variety of trade financing, factoring, foreign exchange, leasing, insurance, investment and electronic banking services.---Source: asia.ccb.com
