SIBOS 2012 discussion underlines significant banking opportunities in China
Banks and IT vendors look to tap into the vast potential of the Chinese market, as China’s economy experience rapid growth in 2012. November 12, 2012 | Baron LaudermilkFinding lucrative opportunities in China was a major highlight at SIBOS 2012, which was held in Osaka, Japan. Bank executives discussed some of the main challenges and opportunities faced in an attempt to tap into the various Asian markets, as the US and European economy and slows. Despite Chinese banks’ refusal to attend SIBOS 2012 due to the ongoing territorial dispute between Tokyo and Beijing, banks and IT vendors engaged in furious discussion regarding banking opportunities in the second largest economy in the world. Below are some perspectives on the ground as The Asian Banker spoke with some senior figures from banks as well as IT vendors. These discussions and interviews provide a brief glimpse of further discussions to come from The Asian Banker in the near future, as we continue to follow up on these topics of interest and seek to produce insightful research. The quest to tap into China Vagner Vichiesi, director of international business and affairs at Banco Do Brazil, spoke about the bank’s bid to make inroads into China by leveraging its trade finance capabilities. The bank already has six operational branches in Japan, enabling it to successfully leverage its connections in Brazil to help Japanese invest in South America. Vichiesi said that China has been involved in more trade activities with Brazil compared to the past, and aims to establish itself in China. This will not only help Chinese clients tap into Brazil, but also help Brazilians invest in China. Similarly, Albert Ho, managing director of international financial institutions at Bank of Montreal (BMO), said that BMO is making major strides in its bid to tap into the Chinese market. The bank has already established its Asia Pacific headquarters in Beijing, and acquired equity stakes in Chinese corporations, most notably a 28% equity stake in Fullgoal Fund Management in 2003 and a 19.99% stake in COFCO Trust in 2012, giving the bank access to h... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Core Banking, Retail Banking, Technology & Operations, Trade Finance, Transaction Banking, Wealth ManagementCore Banking,retail,technology,Trade Finance,Transaction Banking,Wealth Management, Core Banking,Retail Banking,Technology & Operations,Trade Finance,Transaction Banking,Wealth Management, Keywords:SIBOS 2012, Banco Do Brazil, Vagner Vichiesi, BMO, Albert Yu, Julltje Van Der Wijk, ING Group, Bank Of Beijing, Gil Gadot, Fundtech, Hugh Jones IV, Bankers Accuity SIBOS 2012, Banco Do Brazil, Vagner Vichiesi, BMO, Albert Yu, Julltje van der Wijk, ING Group, Bank of Beijing, Gil Gadot, Fundtech, Hugh Jones IV, Bankers Accuity
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