China Construction Bank

About China Construction Bank

Founded in 1954 as the Peoples Construction Bank of China to manage state infrastructure investment. CCB became a commercial bank in 1994 when policy lending functions were transferred to newly created policy banks. CCB was restructured and listed on the Hong Kong Stock Exchange in 2005. Bank of America acquired a 9 percent stake for 3 billion and later sold it for over 20 billion, one of the most profitable bank investments ever. CCB has over 3 trillion in assets and 14,000 branches. The bank finances major Chinese infrastructure projects including railways, highways, and urban development. CCB is the second largest bank in the world by assets after ICBC.