Citi expects more HK bank M&A

With the sale of IBA to Taiwan's Fubon - which is expected to close by year end - Hong Kong has had a wave of three bank M&A deals. Many believe this is long overdue, but there is also much consolidation ahead. But will the families that control so many of the banks be willing to sell? We spoke to Citi's FIG head, Noel Kullivanijaya who advised on the Fubon acquisition.