The Industrial and Commercial Bank of China, which has made headlines with a series of overseas acquisitions, is eyeing more foreign targets, including troubled US banks, state media said Friday.
China's largest lender, cashed up after a 21.9-billion-dollar dual listing in Shanghai and Hong Kong in 2006, could make the acquisition some time this year, the China Daily reported.
"It's possible that ICBC will complete another acquisition deal in 2008," Pan Gongsheng, a ranking ICBC executive in charge of the bank's merger and acquisition business, told the paper.
US financial institutions, battered by the subprime mortgage crisis, may also be on the ICBC's shopping list "if such a deal facilitates our strategic development", Pan said.
"ICBC's major strategy will be expanding in Asia, consolidating in Europe and making a breakthrough in America," Pan said.
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