Foreign banks predict strong revenue growth in China

Despite China’s subdued economic outlook and the slowdown in deal activity, foreign banks told PricewaterhouseCoopers PwC in a new survey that they are optimistic about earnings in the country and predict their annual revenue growth to reach 20% or more by 2015.

The global consulting firm interviewed senior executives and managers from 41 foreign banks in Beijing, Shanghai, Shenzhen and Hong Kong from April to May, asking them to identify the strategic and emerging issues of doing business in the country.

About 17 banks forecast revenue growth of more than 30% by 2015. Respondents said the main source of potential income lies in developing financial...