China Construction Bank (CCB) has opened a branch in Budapest. It is one of the world’s largest credit institutions and has already been based in Zurich since 2015, where it exclusively handles RMB clearing.
At the end of 2022, CCB had a balance sheet total of RMB 34.6 trillion (EUR 4,550 billion), net profit of RMB 323.2 billion (EUR 42.5 billion) and a capital adequacy ratio of 18.4%.
Since 2013, Asia has been at the centre of the external strategy of the Hungarian National Bank (MNB), whose closest partner in China has since been the PBOC.