China Construction Bank says focus on organic growth

Published: 24 Aug 2009 01:21:55 PST

BEIJING, Aug 24 - China Construction Bank <601939.SS><0939.HK> does not rule out overseas acquisitions but its business focus is squarely on organic growth, Guo Shuqing, chairman of the country's second-largest lender by assets, said on Monday.

Any foreign acquisitions would not be major, Guo said at a briefing for reporters on the bank's interim earnings, which it released on Friday. [ID:nHKG273680]

Bank of America <BAC.N> holds a stake of about 11 percent in China Construction Bank.