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CNPC & CCB Bank Ink Strategic Cooperation Agreement

Source: www.gulfoilandgas.com 6/27/2012, Location: Asia

CNPC and China Construction Bank Corporation (CCB) inked a strategic cooperation agreement in Beijing. CNPC and CCB have wide and close cooperation in the fields of fund settlement, deposits and loans business, credit granting, bond underwriting, and foreign exchange.

Based on the newly inked agreement, the two sides are expected to expand cooperation in traditional and emerging businesses, and further consolidate strategic partnership to jointly improve both parties' brand advantage and competitiveness.

China Construction Bank Corporation is a leading commercial bank in China, providing a comprehensive range of commercial banking products and services. It has an extensive customer base, with established banking relationships with many of the largest business groups and leading companies in industries which are strategically important to China's economy.

In 2011, CCB was the second largest bank in the world by market capitalization and 13th largest company in the world. At the end of 2011, it had a network of 13,581 branches and sub-branches in Mainland China, maintained overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, New York, Ho Chi Minh City and Sydney, and representative offices in Taipei and Moscow, and owned multiple subsidiaries, such as CCB Asia, CCB Financial Leasing, CCB International, CCB Trust, Sino-German Bausparkasse, CCB London, CCB Principal Asset Management, and CCB Life.

CNPC Chairman Jiang Jiemin and CCB Chairman Wang Hongzhang attended the signing ceremony and had a friendly talk on deepening cooperation. CNPC CFO Wang Guoliang and CCB member of senior management Zhang Gengsheng signed the agreement on behalf of each party.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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