Seeking Alpha
Research analyst, long/short equity, ETF investing, foreign companies
Profile| Send Message|
( followers)  
Excerpt from our One-Page WSJ Summary:

Morgan Stanley Expands in China With Bank Deal

Summary: Seeking to expand its China operations, Morgan Stanley (NYSE:MS) acquired Nam Tung Bank, a small commercial bank located in the southern city of Zhuhai from Bank of China for an undisclosed amount. Nam Tung only has one branch and 30 employees, but what's important is its commercial-banking license and thus Morgan's ability to apply for and offer more products such as structured derivative products, home mortgages and corporate loans. Morgan's China CEO commented, "This platform will allow us to provide a wider array of new product capabilities that are currently offered only by commercial banks with a presence within China."
Related links: Full WSJ articleGoldman Knows China...Morgan Stanley, A Solid Long Term OpportunityUBS To Benefit from Chinese Banking RestrictionsChina's Banking Sector Looks Better with New Corporate Bankruptcy LawAn Interesting Play on China's Banking Sector: Bank of East AsiaDevelopments in China's Banking Sector
Potentially impacted stocks and ETFs: American Express (NYSE:AXP), Bank of America (NYSE:BAC), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), HSBC (HBC), Merrill Lynch (MER) and UBS AG (UBS) are among the largest foreign banking competitors in China.

Comment on this article

Seeking Alpha's One-Page Annotated Wall Street Journal Summary summarizes all the major stock-related articles in today's WSJ. Receive it by email every morning (free/no spam). Sign up here.

Seeking Alpha is not affiliated with The Wall St. Journal.

Source: Morgan Stanley Acquires Small Commercial Bank in China