Bank of America (Asia), which is being acquired by China Construction Bank, will seek to expand operations in Hong Kong and Macau over the next three years after the 9.7 billion HK dollars (1.24 billion US dollars) deal is finalized, The Standard reported. The paper quoted BOA Asia chief executive Samuel Tsien as saying that the new overseas banking vehicle of CCB plans to double its number of branches in the region to about 40, from the existing 17 in Hong Kong and three in Macau. "The bank is optimistic that both Hong Kong and Macau have strong platforms to advance further and to drive new growth ahead." The acquisition of units belonging to an established foreign bank such as Bank of America could open the door for CCB to increase its international presence, Tsien said after releasing BOA Asia's first-half results. CCB is also looking to acquire other overseas investment banking units, with targets including Hong Kong-based Goldbond Capital and Taiwan's Core Pacific International. Currently, CCB - the mainland's third-largest bank - has five branches in Hong Kong, but none in Macau.