Time is ripe for takeover of smaller banks

cctv.com 02-23-2006 10:46

Standard and Poor's released a report on Wednesday in Beijing, saying that China's banking sector is ripe for consolidation.

The rating agency said the consolidations are especially thirsted among second-tier joint-stock commercial banks and city commercial banks. The report also said that smaller banks with satisfactory market positions in major cities may attract the attention of overseas investors, which could provide capital and tools to enable them to compete against their strong peers. And the pace of consolidation is likely to speed up in the coming years. It noted that China's top 50 banks have rapidly improved their financial profiles during past years.

Editor:Wang Ping  Source:CCTV.com