ICBC : Industrial and Commercial Bank of China (1398)

[safetyfirst]

U guys hv any concern abt the competition from online banking from tencent?

No concern if you consider the source of their income (Tencent, Alibaba etc). And their overall size.

If there is really money to be made there, why don't Google and Amazon follow suit in the US?

IMHO, i think if the trend continues, it may be a concern. And iirc, Tencent, alibaba pays the short term deposits around 4-5%, the short term returns of 5% will be a strong draw to attact more and more online deposits.

I am not sure how it will turn out eventually but when tencent and alibaba are willing to pay short term interest for 4-5%, i think something is seriously wrong because for that to happen, i expect tencent and alibaba to make short term return of 6-7% but how realistic and how sustainable is that...