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CCB, Deutsche Bank Join Hands in Financial Services
The China Construction Bank (CCB) and the Deutsche Bank signed a letter of intent Thursday on cooperation in financial services.
The two sides will cooperate in information exchange of clients ' account materials, client credit services, entrusted loans and overseas clients' services.
According to the agreement, the Deutsche Bank will recommend clients to the CCB and provide necessary guarantees for the CCB to provide the clients with credit services, including loans, discounts for bill acceptance, opening letters of credit and providing banking guarantees.
As one of China's four largest State commercial banks, the CCB boasts strong capital and client resources and powerful scientific and technological strengths, as well as unique advantages in agent capital clearing and electronics network construction.
The Deutsche Bank is one of the world's largest banks, with assets totaling 940 billion euros. It provides financial services in more than 70 countries and regions, and has branches in China in Beijing, Shanghai, Guangzhou and Hong Kong.
A spokesman for the CCB said that so far the two banks have carried out comprehensive cooperation in foreign exchange capital clearing, international settlement and overseas financing.
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