China Construction Bank (Brasil) Banco Múltiplo S/A was established from the acquisition of BICBANCO, signed on August 29 2014. BICBANCO was founded in 1938 and was one of the major medium size banks of the country, focused on attending the credit needs of the Middle Market Companies. Therewith, CCB Brasil has become the biggest operation of a Chinese bank in Brazil.
Currently, CCB Brasil has 37 service outlets. Its operations are mostly concentrated on working capital loans, bank guarantees, trade finance services, derivatives and fixed income investments. National and international middle companies are the most important clients.
More than 800 Brazilian employees provide their knowledge on the local market, which added to the large size of CCB is contributing to strengthen the local operation. CCB Brasil also owns other companies in the country, amongst them: CCB Brasil Financeira, which specializes in vehicle financing and payroll-deductible loans; and CCB Brasil Leasing, that performs financial leasing operations. Internationally, CCB Brasil holds a branch in Grand Cayman that allows a wide range of services to meet the costumers needs abroad.
China is the most important commercial partner of Brazil. The business between the two countries surpassed 77 billion dollars in 2013. Around 25 thousand Brazilian companies of medium and large size work with Sino-Brazilian trade. The CCB operations in Brazil will bring even more opportunities to the Brazil-China business relationship.