Era of bank JVs may be ending in China

Oct 13, 2009

Is ICBC Credit Suisse to be the last of the great bank joint-venture deals in China? With uncertainty looming over the renewal of bank JV licence rules, such partnerships may soon become an endangered species.

With China Ocean Shipping Company (Cosco) planning to offload its 20% stake in ICBC Credit Suisse Asset Management, market observers across China worry the sale could mark the last of the great banking joint-venture deals in China. ICBC holds a 55% stake in the JV and Credit Suisse 25%.

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