Bank of America's Ken Lewis Comments On China Construction Bank Investment
In remarks yesterday, Bank of America CEO Ken Lewis provided some background on the bank's recent decision to invest $3 billion in China Construction Bank.
China Construction Bank, in particular, is a terrific strategic fit for our company. Like Bank of America, CCB is very focused on consumer and commercial banking and finance. Like us, they operate a huge distribution network, with 14,500 bank branches and 12,500 ATMs. The bank has 136 million retail accounts – that’s close to half the size of the U.S. population – and has relationships with 92 of the top 100 business enterprises in China.
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