The Industrial and Commercial Bank of China and the Bank of East Asia are in talks to buy part of NatWest Markets Asia's operations.
It is understood the proposal is awaiting approval from mainland regulatory authorities and that an announcement may be made next week.
A source said the Industrial and Commercial Bank of China, the largest commercial bank in the mainland, would hold a controlling stake in the company.
The matchmaker of the potential deal is NatWest Markets' Asian corporate finance head in Hong Kong, Meocre Li Kwok-wing.
Mr Li has been a prominent figure in the accounting and corporate finance circle known for its close connections with the mainland and contributed in laying down the accounting framework for the flotation of H- and B-share companies.
