China Construction Bank's (CCB) newly appointed president Zhang Jianquo said Wednesday that overseas expansion was his top priority, the <i>South China Morning Post</i> reported. "At present, we have just six overseas branches and their business scope is very small. Developing our offshore presence is a strategic decision," Zhang told reporters in Beijing. He said the bank would develop its overseas business, which currently accounts for just 1% of its total business, largely through organic growth but didn't rule out acquisitions. CCB took over Bank of America's Hong Kong and Macau unit, complete with 17 branches and US$950 million in assets, for US$1.2 billion in August. Meanwhile, former CCB president Zhang Enzhao faces 15 years in prison after failing to appeal his sentence. Zhang admitted taking 19 bribes worth a total of US$531,000 while head of CCB between 2001 and 2004.