Zurich, Switzerland - 14 January 2016 - The grand opening of the Zurich Branch (“the Branch”) of China Construction Bank (“CCB” or “the Bank”) was held today in Zurich, Switzerland. Executive Vice President of CCB, Mr. Pang Xiusheng; the Chinese ambassador to Switzerland, Ms. Xu Jinghu; the Swiss Finance Minister, Ms. Eveline Widmer-Schlumpf; Chairman of the Governing Board of the Swiss National Bank, Mr. Thomas Jordan; Chairman of the Swiss Financial Market Supervisory Authority, Mr. Thomas Bauer; and over 200 guests attended the opening ceremony.
CCB Vice President Xiusheng PANG together with guests unveiled nameplates of CCB Zurich Branch and CCB RMB Clearing Center
As the only Chinese bank in Switzerland, the Branch will focus on the traditional retail banking business, with a particular emphasis on providing premium financial services for Chinese companies investing in Switzerland, import/export trading companies from both China and Switzerland, local customers who invest in China, and domestic and international financial institutions. In addition, as a yuan clearing bank authorized by the People’s Bank of China, the Branch will develop a cross-border renminbi business and build an offshore renminbi center in Switzerland. Also, CCB plans to launch wealth management, private banking and asset management businesses in the future.
General Manager of CCB Zurich Branch Mr. Weiyun GONG received the “Golden Key" from Corine Mauch, the Mayor of Zurich City
Mr. Pang Xiusheng, Executive Vice President of CCB, said at the opening ceremony that Switzerland is a key target market for CCB as the Bank expands its international business. The Zurich branch is crucial in helping CCB grow its European network and expand its global footprint. Furthermore, the branch will boost the Bank’s network coverage in Europe and its service capability, and facilitate financial cooperation and bilateral trade between the two countries.
CCB is one of the biggest commercial banks in China. The Bank’s total assets and profitability stand out among its peers and its other operation results are widely recognized by the market and the industry. In 2015, the Bank won the “Best Bank 2015 (China)” award from US magazine Global Finance and two awards for “Best Socially Responsible Financial Institution of the Year” and “Excellent Contribution to the Public and to Charity” from the China Banking Association (CBA). In addition, CCB maintained second place in the “Top 1000 World Banks” by tier one capital published by UK magazine The Banker. The Bank also retained second position in the “2015 Global 2000” list published by Forbes. As at 30 September 2015, CCB’s total assets and net profit amounted to RMB 18.32 trillion and RMB 192.076 billion respectively. The annualized return on average assets and annualized return on average equity were 1.46% and 19.45% respectively. The Bank’s capital adequacy ratio was 14.97% and common equity tier one ratio stood at 12.73%. To date, CCB has established over 130 overseas institutions in 25 countries and regions.
