BEA: sufficient room in HK offered to differential banks

Pang Yuk Wing Joseph, director of Bank of East Asia .Ltd. (0023) declined comment on acquisition of Dao Heng Bank Group Ltd.(0223) by DBS. He said it was unnecessary to worry about threat from enlarged Dao Heng Bank, for there was sufficient room for differential banks with different strategies. He said just like other mature market, acquisition and merger would occur in vehement competition.A director of the First Pacific Bank said under the trend of merging, medium&small-size banks still can make profit and together with Bank of East Asia .Ltd. The(0023) , the First Pacific would adopt the tier rate policies after cancellation of rate agreement.

Related stock : (NIL)