More banks eye M&As in Asia Pacific
By Zhang Fengming |
June 18, 2010, Friday
|
Print Edition
Print Edition
AN increasing number of financial institutions expects to undertake mergers and acquisitions in Asia Pacific amid a post-crisis recovery, according to an industry survey yesterday.
More than 54 percent of them expected to evaluate or undertake M&As in 12 months, they told a survey made in March and April, up from 42 percent a year ago, PricewaterhouseCoopers said yesterday.
"M&As in the region will rise in the next 12 months," said Nelson Lou, a PwC partner in China. "And existing global players in China will provide opportunities for domestic institutions (for M&As)."
As the dust of the global financial crisis settles, home-grown financial institutions are seen as becoming stronger to compete against established global players, creating a new competitive landscape, the accounting firm said.
In China, domestic banks are expected to go abroad for M&A opportunities after they completed capital replenishment this year.
The banks are seeking to raise funds this year after they extended a record 9.6 trillion yuan (US$1.4 trillion) of loans in 2009.
Retail banking is the primary acquisition target, followed by private banking with the rise of millionaires in the region.
In the region, the proportion of Asian financial institutions expecting to do M&A deals has returned to near pre-crisis levels, according to the accounting firm.
PwC teamed up with IDC Financial Insights Asia Pacific for the survey of senior managers of 122 major financial firms in the region.
More than 54 percent of them expected to evaluate or undertake M&As in 12 months, they told a survey made in March and April, up from 42 percent a year ago, PricewaterhouseCoopers said yesterday.
"M&As in the region will rise in the next 12 months," said Nelson Lou, a PwC partner in China. "And existing global players in China will provide opportunities for domestic institutions (for M&As)."
As the dust of the global financial crisis settles, home-grown financial institutions are seen as becoming stronger to compete against established global players, creating a new competitive landscape, the accounting firm said.
In China, domestic banks are expected to go abroad for M&A opportunities after they completed capital replenishment this year.
The banks are seeking to raise funds this year after they extended a record 9.6 trillion yuan (US$1.4 trillion) of loans in 2009.
Retail banking is the primary acquisition target, followed by private banking with the rise of millionaires in the region.
In the region, the proportion of Asian financial institutions expecting to do M&A deals has returned to near pre-crisis levels, according to the accounting firm.
PwC teamed up with IDC Financial Insights Asia Pacific for the survey of senior managers of 122 major financial firms in the region.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
