SEOUL: International banks, including Citigroup, HSBC Holdings and Standard Chartered (StanChart), are hunting for acquisitions in South Koreas US$424bil consumer banking market, eyeing its growth potential and cheap valuations, analysts say.
Facing stalled growth elsewhere in Asia and in Hong Kong in particular, the banks are seen looking to take advantage of the fall-out from a credit card debt blow-out, which has hammered valuations of South Koreas consumer banks.
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