Foreign banks are failing to make headway in China and will not create profitable mainland businesses just through riding the expected growth in the markets, according to a study.
The onshore investment banking, securities trading and corporate lending ventures of foreign banks have won less than 7 per cent market share between them at best and that has barely changed in five years, according to consultants at Oliver Wyman.
Banks from the US, Europe and elsewhere continue to invest in China against the promise of the growth to come. When Citigroupofficially launched its mainland securities venture recently,it said it expected China to supply 10 per cent of the world’s bond and equity issues in a year to 18 months’ time.
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