LONDON Nov 3 China Construction Bank (CCB)
, China's No. 2 lender, is looking for acquisition
opportunities in Europe but first needs to see regulators open
their doors, its chairman told the Financial Times.
CCB Chairman Wang Hongzhang told the FT in an interview
published on the paper's website on Sunday that "CCB values the
European market a lot."
"If we can find suitable targets and the price is suitable
and we get the regulators' support, I think CCB will catch and
seize the chance for mergers and acquisitions."
Wang said no deal was imminent but he had met regulators in
Germany and the UK last week for informal talks about whether
the bank would be welcome in the two countries.
He said he wanted to expand operations to more European
countries but added: "Whether we can establish more institutions
in Europe depends on European countries' regulators, their
attitudes towards CCB and whether CCB is welcomed by them or
On Friday CCB said it would buy a 72 percent stake in
Brazil's Banco Industrial e Comercial SA for 1.6
billion reals ($719.6 million).
The FT said that it spoke to Wang before the Brazil deal was
Last month Britain announced easier visa regulations for
Chinese visitors and plans to let Chinese banks set up wholesale
banking branches in London, easing regulations imposed after the
Wang told the Financial Times that CCB plans to apply for a
branch licence in London.