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China Construction Bank opens a branch in Moscow
7.03.2013 11:41
China Construction Bank opens a branch in Moscow

China Construction Bank (CCB), one of the largest China’s state banks is about to open a branch in Russia, says the Central Bank of Russia. The Bank has not received the license to conduct business in Russia yet, as it has not paid its authorized capital, which is supposed to amount 4.2 billion Rubles. At that the statutory period of paying it is not over.

The authorities of China Construction Bank have repeatedly stated about their intentions to open a branch in Russia. Two years ago The Board of directors took a decision to invest $150 million into the capital of the Russian branch.

Currently two China banks operate in Russia, Bank of China (Eluosi)  and Industrial and Commercial Bank of China Limited – ICBC.

Author: Irina Fomina

Tags: Bank     

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