China Construction Bank makes foray into Russia

China Construction Bank , one of China’s top four state banks, is set to open a branch in Russia, the central bank said on Wednesday, as Moscow forges closer ties with its energy-hungry neighbour. The bank is awaiting a licence to conduct business in Russia, the central bank said. China Construction Bank is bucking the trend of foreign lenders leaving Russia to cut costs and mitigate the consequences of the 2008 financial crisis. Russian President

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