Santander, CCB to Target Smaller China Towns

Discussion in 'Stocks' started by ASusilovic, Mar 27, 2011.

  1. SHANGHAI—Spain's Banco Santander SA will take a 19.9% stake in a joint venture with China Construction Bank Corp. to provide banking services outside of China's major cities, an area of increasing interest to foreign financial institutions looking to make a mark in China.

    The tie-up, which was flagged by executives from both banks early last year, will see the two sides initially invest 3.5 billion yuan ($534 million) in the joint venture. The venture will specialize in investing and managing "village and town banks,"

    Why I like Santander? They have the guts other bank´s CEO´s do not have... :cool: