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01658 PSBC
RTNominal down4.260 -0.030 (-0.699%)
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29/06/2020 15:15

{I-bank focus}Brokerage licenses to banks to speed up M&A

[ET Net News Agency, 29 June 2020] Caixin reported that China plans to offer brokerage
licenses to commercial banks, ICBC (01398) and CCB (00939), to foster "aircraft-carrier
sized" investment banks amid the opening up of the financial market.
Jefferies Research thinks this would be slightly positive for ICBC and CCB, but profit
rises would be limited given China's small capital market and intense competition.
However, such a move could hasten brokerage business consolidation, it added.
Similar to what has happened in the asset management industry in the past two years,
Jefferies believes the entry of banks into the brokerage business would likely have a
limited impact on their own profit yet change the landscape of the brokerage industry. It
would likely speed up M&A as more than 130 brokers are in fierce competition. (KL)

Remark: Real time quote last updated: 14/08/2020 15:44
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