International Expansion
In 2006, CCB acquired Bank of America (Asia), which started in 1912 in Hong Kong as Bank of Canton, and had a subsidiary in Macao.
CCB opened a London office on 2 June 2009.
In 2008, CCB submitted an application to the NY State Banking Department and the Federal Reserve Board to establish a branch in New York City. CCB officially opened its New York branch on 6 June 2009.
China Construction Bank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no transaction fees when traveling internationally. However, handling costs and VISA processing fees may be applied. Other participating banks are:
- Barclays (United Kingdom),
- Bank of America (United States),
- BNP Paribas (France),
- Deutsche Bank (Germany),
- Santander Serfin (Spain and Mexico),
- Scotiabank (Canada) and
- Westpac (Australia and New Zealand).
Read more about this topic: China Construction Bank
Famous quotes containing the word expansion:
“The fundamental steps of expansion that will open a person, over time, to the full flowering of his or her individuality are the same for both genders. But men and women are rarely in the same place struggling with the same questions at the same age.”
—Gail Sheehy (20th century)