MILAN: China Construction Bank Corp (CCB) , the country’s second-biggest bank, opened its first Italian branch in Milan on Friday, further expanding its presence in Europe.
CCB opened branches in Barcelona and Amsterdam in the past few days.
A foothold in Italy’s financial capital would help CCB promote trade between the euro zone’s third-largest economy and China, which rose 8 percent in value last year to $47 billion, the bank said.
CCB said it was targeting medium- and large-sized Italian companies that have commercial ties with China or invest there.
“The opening of our Milanese branch … is an important step towards improving our network abroad,” CCB Chairman Wang Hongzhang said in a statement.