StanChart looks to expand in Greater China
(Hong Kong) - London-listed Asian banking specialist Standard Chartered was on the prowl for acquisitions in Hong Kong, mainland China and even Taiwan, according to the bank's head of Greater China operations Peter Wong.
Wong confirmed StanChart would consider buying a business portfolio or a stake in another Hong Kong bank, and said it was seeking more tie-ups with banks in China.
He said the market consolidation and low prices in Taiwan also made it an attractive market for acquisitions.
Wong refused to comment, however, on Hong Kong reports that StanChart would bid for the mortgage portfolio of Citibank Hong Kong, which has been valued at up to HK$20 billion (US$2.56 billion).
He said the market consolidation and low prices in Taiwan also made it an attractive market for acquisitions.
Wong refused to comment, however, on Hong Kong reports that StanChart would bid for the mortgage portfolio of Citibank Hong Kong, which has been valued at up to HK$20 billion (US$2.56 billion).
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