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| Friday, October 10, 2008 20:57:25 |
China Construction Bank eyes Bank of America Asia operation
China Construction Bank (CCB), China's third-largest lender, is interested in acquiring Bank of America (Asia) after failing to buy out Asia Commercial Bank in February, The Standard reported.
CCB is reviewing the financials of Bank of America (Asia) and an offer has yet to be made, quoted market sources as saying.
Bank of America (Asia) has 17 branches in Hong Kong and Macau offering a wide range of consumer and commercial banking products and services.
CCB, one of China's Big Four state banks, is the mainland's largest mortgage lender, but has little experience in consumer lending.
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