India and China, the world’s two massive emerging dynamos, are developing their banking sectors in different ways. With their huge populations and expanding economies, both are destined to build significant financial sectors in the decades to come, but the key questions revolve around how, what and when; how will they go about it, what structures will be created and when it will happen?
In The Banker’s latest Top 1000 world banks listing (see page 177) both countries are in their global banking infancy with India’s 24 banks accounting for 0.9% of aggregate Tier 1 capital and China’s 25 banks accounting for 4.8% of the Top 1000 total. With a combined total of more than a third of the world’s population, banking in both countries has a long way to go to match global comparisons. So what is being done?
