Beijing-based China Construction Bank (CCB) is considering establishing a subsidiary in Kazakhstan. The potential expansion was a key topic of discussion between CCB President Zhang Jinliang and officials from Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM) and the National Bank.
During the meeting, the two sides also discussed the state and outlook of Kazakhstan’s banking sector, as well as the development of financial cooperation between Kazakhstan and China.
Particular attention was paid to expanding investment cooperation between the two countries.
Following the talks, both sides expressed interest in further strengthening cooperation between financial institutions in Kazakhstan and China.
However, the ARDFM has not provided details on when CCB could establish a subsidiary in Kazakhstan, the size of any potential investment or the scope of its future operations.
CCB is one of the largest banks in China and globally. It has operated in its current corporate form since 2004. The bank’s shares have been listed in Hong Kong since 2005 and in Shanghai since 2007.
CCB is one of China’s «Big Four» state-owned commercial banks, alongside the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China and Bank of China.
