Industrial Bank (IDCBF.PK) dove 4.5% in Hong Kong trade last night after the PBOC rate cut...


Industrial Bank (IDCBF.PK) dove 4.5% in Hong Kong trade last night after the PBOC rate cut included allowing banks to offer a 20% discount to the benchmark lending rate. Chinese banks have benefited from state-set lending and deposit rates which guaranteed them a chunky margin. Liberalization is a good thing, but true competition is sure to crimp profits.

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