CCB eyes Europe in expansion push

China Construction Bank (CCB; 601939.SHA, 939.HKG) will seek further acquisitions to expand its business in Europe following its biggest overseas deal, Financial Times reported. China’s second-biggest bank by assets last week agreed to buy 72% of mid-sized Brazilian lender BicBanco for US$725 million. It was CCB’s first overseas acquisition, having previously limited its international push to branch openings and minority investments. CCB Chairman Wang Hongzhang said his bank was keen to expand in Europe and that he had met with regulators in Germany and in the UK last week for informal talks about whether CCB would be welcome in the two countries.