China Construction Bank is one of the largest banks in China and the world. It is one of the "Big Four" of the largest state-owned banks in China.

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China Construction Bank and Agricultural Bank of China (AgBank) reported total assets at their Moscow subsidiaries jumped 3.3 times and 1.4 times, respectively, in 2022, while Russia was put under harsh western sanctions. The three largest banks in China have stopped accepting payments from Russian sanctioned financial organizations, Izvestia found out. We are talking about Industrial and Commercial Bank of China (ICBC), China Construction Bank and Bank of China. This decision is associated with the risks of secondary sanctions.

The Company Statement
September 03, 2023

Russian companies openned accounts with the bank; decline to comment. Later, the largest Chinese state banks - Bank of China, ICBC, China Construction Bank - refuse to accept payments from banks from the Russian Federation that have come under sanctions. Two more structures of Chinese banks operate in Russia: the Russian China Construction Bank owned by China Construction Bank (assets of 20.5 billion rubles at the beginning of 2022), and China Agricultural Bank (11.8 billion rubles), the owner of which is Agricultural Bank of China. According to the financial indicators of China Construction Bank, its assets have tripled over the past year, to 60.6 billion rubles.

February 21, 2024Commission without transfer: the three largest banks in China stopped accepting payments from the Russian Federation
September 04, 2023FT: China’s share in the Russian banking sector has quadrupled since the beginning of the CBO
July 12, 2023During the crisis, Chinese subsidiaries in Russia sharply increased lending to banks Their share in this market increased by almost five times
May 28, 2023Chinese banks seize on Russia, oil trade to internationalise yuan
April 17, 2023Chinese spurt: major banks from China have dramatically increased their business in Russia
February 01, 2023China, Turkey and UAE do not want to work with sub-sanctioned Russian banks - vice president of Rosbank
February 01, 2023China, Turkey and UAE join sanctions against Russian banks - media
April 01, 2022Limited Liability Company "China Construction Bank"
March 04, 2022Russian firms rush to open Chinese bank accounts as sanctions bite - sources
February 25, 2022Chinese banks began to limit the financing of purchases of Russian raw materials - Bloomberg
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.