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In terms of market capitalization, China Construction Bank is mainland China's second largest bank and fourth largest bank in world. CCB also operates its own branches in Singapore, Tokyo, Seoul, Hong Kong, Frankfurt and Johannesburg. Representative offices are present in London, Sydney and New York.
Brief history
China Construction Bank was founded initially under the name of 'People's Construction Bank of China' on October 1, 1954. This name was changed to China Construction Bank on March 26, 1996. It was formed as a joint-stock commercial bank, China Construction Bank Corporation in 2006 under PRC company law.
CCB was listed in Hong Kong Stock Exchange (SEHK:939) on October 27, 2005. This bank was listed on Shanghai Stock Exchange (SSE: 601939) on September 25, 2007.
Products and services
China Construction Bank operates in 3 business categories: personal banking, corporate banking and treasury operations. CCB is a leader in a number of services and products like residential mortgage and infrastructure loans. Bank cards are also granted to individual customers.
Investment division of China Construction Bank has launched China health care investment fund with a corpus of 5 billion yuan or $731.3 million. This fund aims to address China's fast growing health care sector. Sectors like medical equipment manufacturing, pharmacy and medical services are kept under ambit of this fund.
Financials
Operating income of China Construction Bank was RMB 220,717 million in 2007. Net profit amounted to RMB 100,816 million. Total assets equaled RMB 6,598,177 million. Net asset value per share was RMB 1.81. Core capital adequacy ratio was 10.37.
Awards and recognition
China Construction Bank received 'Excellence in Retail Risk Management' award from The Asian Banker in 2008.
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