BEIJING — Bank of America Corp. said Wednesday it is committed to expanding in China and aims to develop itself into a leading bank in Asia.
Chief Executive Brian Moynihan said China Construction Bank Corp. is a key strategic partner for the U.S. lender. He made the comments at a media briefing during his first official visit to China since he took up the post at Bank of America.
Moynihan said the bank is "comfortable where we are," in response to a question on whether the U.S. lender will raise its stake in the Chinese bank.
Bank of America holds a nearly 10% stake in state-run China Construction Bank.