China Construction Bank gets Malaysian banking licence

Expansion: A sign of China Construction Bank is seen at a branch in Beijing, China. CCB ranked second on Forbes’ list of the world’s biggest public companies in 2016. It presently has a market capitalisation of US1.26 trillion. — Reuters

PETALING JAYA: China Construction Bank Corp (CCB), ranked as the world’s second-largest bank, has been granted a Malaysian commercial bank licence by the Minister of Finance.

Bank Negara said the banking giant’s unit, China Construction Bank (Malaysia) Bhd (CCB Malaysia), was granted the licence based on its prudential strength and ability to “bring in propositions that are in the best interest of Malaysia”.