Headquartered in Xincheng District, Beijing, China, China Construction Bank is one of the Big Four banks in China.
The bank has around 14,000 branches in China along with overseas branches in cities like Hong Kong, New York, Barcelona, Tokyo, Sydney, etc. China Construction Bank was formed in 1954 and named as People’s Construction Bank of China till 1996.
China Construction Bank is among the top 4 banks in the world and has an excellent product portfolio like Finance and insurance, Consumer Banking, Corporate Banking, Investment Banking, Investment Management and much more. The strong financial strength of the company can be seen from the fact that the company is listed on the Hong Kong Stock Exchange.
In 2005, Bank of America invested in China Construction Bank by acquiring 9% stake. But till 2013, Bank of America sold all of its stake to help bolster capital during stress testing after financial crisis of 2008. During this period, CCB acquired Bank of America (Asia) and took several steps to expand in global market. It got listed in Hong Kong Stock Exchange in 2005 and its stock prices has risen since then.