Related News
RBS near to JV with Chinese broker
By Sudip Kar-Gupta |
September 18, 2010, Saturday
|
Print Edition
Print Edition
ROYAL Bank of Scotland is close to forming a venture with China's Guolian Securities as part of the British lender's expansion in the booming Asian economy, a source with knowledge of the matter said yesterday.
"China is a core market for RBS in Asia," the source said.
RBS, bailed out by Britain at the height of the financial crisis, confirmed it was seeking a new Chinese securities joint venture but declined to identify any parties with whom it was holding talks.
RBS, 83 percent owned by the British taxpayer, is looking to build on existing partnerships with Galaxy Futures and Suzhou Trust. The British bank has minority stakes in both Chinese firms.
Many major international banks are focusing on China's securities market for growth in the wake of economic uncertainty in Europe and the United States.
UBS, Credit Suisse, Goldman Sachs, Morgan Stanley and Deutsche Bank are among global banks with securities joint ventures in China.
Economic data have showed China's economy remained buoyant despite efforts to curb property speculation.
"China is a core market for RBS in Asia," the source said.
RBS, bailed out by Britain at the height of the financial crisis, confirmed it was seeking a new Chinese securities joint venture but declined to identify any parties with whom it was holding talks.
RBS, 83 percent owned by the British taxpayer, is looking to build on existing partnerships with Galaxy Futures and Suzhou Trust. The British bank has minority stakes in both Chinese firms.
Many major international banks are focusing on China's securities market for growth in the wake of economic uncertainty in Europe and the United States.
UBS, Credit Suisse, Goldman Sachs, Morgan Stanley and Deutsche Bank are among global banks with securities joint ventures in China.
Economic data have showed China's economy remained buoyant despite efforts to curb property speculation.
- 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.
