Chinese banks tiptoe overseas

CCB’s first purchase outside of Greater China illustrates the cautious strategy of Chinese banks as they expand overseas. CCB’s acquisition of Brazil’s BicBanco was years in the making, took advantage of a slowdown in Brazil’s economy and was reasonably priced.

Chinese banks tiptoe overseas

China Construction Bank’s purchase of Brazil’s Banco Industrial e Comercial BicBanco for about $730 million in cash is the latest push by a Chinese bank overseas.  

Chinese banks have been gradually following their clients outside of China, many of whom are expanding in Latin America. ICBC bought 80% of Standard Bank’s Argentine division last year, and has hung out its shingle in Peru and Brazil.

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