CCB Overseas Assets Reach 3.52 Billion US Dollars

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Last updated at: (Beijing Time) Monday, February 25, 2002

CCB Overseas Assets Reach 3.52 Billion US Dollars

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By the end of 2001, the total asset value of the overseas branches of the China Construction Bank (CCB), one of China's four state-owned commercial banks, had reached 3.52 billion U.S. dollars, up 24.4 percent from the end of 2000.

A spokesman for the CCB said that the aggregate profits of overseas branches reached 21.74 million U.S. dollars last year, up 62.5 percent. The bank's four branches in Hong Kong, Singapore, Frankfort and Johannesburg all enjoyed considerable improvement in both asset value and profitability.

CCB President Zhang Enzhao said the bank will develop overseas branches and institutions, step up supervision and prevent financial risks, so as to ensure their healthy development.

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