China Construction Bank (CCB; 00939.HK; 601939.SH) formally opened its branch in Cape Town, South Africa on Wednesday, which became CCB's second operating affiliate in Africa after Johannesburg Branch.
CCB Cape Town Branch is allowed to handle commercial banking businesses including saving and loaning, trade financing and forex trading. Wang Hongzhang, chairman of CCB, said, "As South Africa is an important target market for CCB, the opening of Cape Town Branch is the bank's key move to adopt internationalized transformation and explore emerging market, which will enlarge network coverage and strengthen service capability of CCB." The bank opened Johannesburg Branch in 2000. Its total assets in South Africa have exceeded 2.3 billion US dollars by June.
Latest comments