China Construction Bank becomes 25th lender registered in New Zealand

China Construction Bank Corp will operate in New Zealand as a branch. Photo / 123RF

China Construction Bank Corp (CCB) has become the 25th lender to be registered to provide banking services in New Zealand, the Reserve Bank says.

The Chinese lender will operate in New Zealand as a branch. It also has a subsidiary, China Construction Bank (New Zealand), which has been registered since July 2014.

Beijing-based CCB is China's second-largest lender after Industrial and Commercial Bank of China, which had a New Zealand subsidiary registered in November 2013. Bank of China is the other Chinese lender with a subsidiary registered in New Zealand.