Case Study Of China CITIC Bank’s Merger And Acquisition Of Altyn Bank

With the increasingly fierce competition among local commercial banks,under the policy environment of vigorously encouraging enterprises to actively "go global",some commercial banks have begun to develop overseas markets.Merger and acquisition is a significant and valid means for commercial banks to promptly access overseas markets at low cost.China Construction Bank,Industrial and Commercial Bank of China and other state-owned commercial banks have committed themselves to the development of overseas markets through merger and acquisition.Some joint-stock commercial banks have also involved in overseas mergers and acquisitions activities,and China CITIC Bank is one of them.At present,joint-stock commercial banks focus on the performance of merger and acquisition,the successful factors of mergers and acquisitions,the risks after mergers and acquisitions,and the advantages and disadvantages after mergers and acquisitions.In April2018,China CITIC Bank successfully completed the overseas merger and acquisition of Altyn bank.After analyzing this case at length from various perspectives,it obtains enlightenment and gives suggestions.After expounding the merger and acquisition parties and the merger and acquisition process,this thesis analyzes this case from multiple perspectives,taking the acquirer China CITIC Bank as the main research object.Firstly,it analyzes the reasons for merger and acquisition,and then it analyzes the performance of merger and acquisition from the perspective of long-term and short-term.The short-term performance is studied by the event study method.The study finds that the merger and acquisition has a positive impact on the stock price of China CITIC Bank in the short term.The long-term performance is studied by factor analysis method and financial index analysis method.From the perspective of long-term performance,the mergers and acquisitions have improved the growth ability of China CITIC Bank,but have not significantly improved the profitability.At the same time,China CITIC Bank successfully realized its layout in Kazakhstan,which was a successful merger and acquisition case in general.Afterwards,it analyzes the successful factors of mergers and acquisitions,the risks after mergers and acquisitions,and the advantages and disadvantages after mergers and acquisitions.According to the enlightenment of case study,it gives suggestions on overseas mergers and acquisitions in the future for joint-stock commercial banks: fully considering their own needs and strength;carefully selecting regions and objects for mergers and acquisitions;choosing an opportune moment for mergers;paying attention to the integration after mergers and acquisitions;strengthening the energy injection of science and technology;paying attention to all-round risk prevention.