RBNZ registers China Construction Bank

Mon, 14 Jul 2014

By Paul McBeth July 15 (BusinessDesk) - China Construction Bank, which last year decided to set up a New Zealand subsidiary, has been licensed by the Reserve Bank, making it the country's 24th registered lender. The central bank, which regulates the local banking sector, registered CCB New Zealand as a bank, and the lender will change its name to China Construction Bank (New Zealand), the RBNZ said in a statement. The Chinese bank last year approved a US$50 million capital injection to set up a New Zealand subsidiary, adding to its branch...

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