Open door: the merger between ICICI and the Bank of Rajasthan is the first consolidation in India since 2008Indian banks are demonstrating a return to good health and new players are set to enter the market. But overbanked urban areas and a seeming reluctance to enter a period of consolidation continues to hamper the industry's development. Writer Rekha Menon
Omar Zakhilwal, Afghanistan's minister of financeAfghanistan's minister of finance tells The Banker how the government is addressing its significant security and infrastructure challenges and calls for Afghanistan to be given more control over how international aid money is spent within its territory. Writer Michelle Price
Surendra Pandey, Nepal's finance ministerDespite ongoing political unrest, Nepal's finance minister says his focus is fixed firmly on economic development and rebuilding the country's infrastructure. Writer Michelle Price
Huang Chih-Peng (right), the director-general of Taiwan's Bureau of Foreign Trade, shakes hands with Tang Wei, director-general of China's Taiwan, Hong Kong and Macau Affairs department during talks over the Economic Co-operation Framework Agreement in Taoyuan in MarchThe imminent signing of an economic co-operation framework agreement between Taiwan and China promises to bring major structural shift in Taiwan's highly state-dominated banking industry. Writer Gavin Bowring
Rural support: in an effort to create social stability, China has allocated more financial support to farmersAs the global crisis weakened other major economies, China's huge lending spree sent its growth soaring, but it must hope that in having made credit so loosely available it has not inadvertently planted the seeds of a future home-grown crisis. Writer Brian Caplen
Despite a sense of optimism at the Asian Development Bank's 43rd annual meeting last month, Asia-watchers warn that there may still be trouble ahead due to a disruptive influx of foreign capital. Writer Michelle Price
Thomas Fang, head of Greater China risk management products intermediary sales at UBSThe Asian structured products market is slowly rebuilding itself after the fallout from the global financial crisis. High-net-worth investors are getting their risk appetite back but providers are having to structure shorter-term products in order to win business. Writer Michael Marray
Fast and effective: KfW's January 10-year dollar deal had a healthy placement in AsiaDespite concerns about government budget deficits, Asian central banks continue to show strong demand for European sovereign bonds. But sovereign, supranational and agency issuers all need to focus much more on the careful execution of deals, and the syndication process has been speeded up because of volatile market conditions. Writer Michael Marray
Back on form: South Korea's economy was on the brink of disaster in January 2009, but is now one of the fastest recovering markets in AsiaDespite falling into a major economic trough in the first quarter of 2009, the majority of South Korea's banks are poised for a stable recovery in 2010. But the unwinding of stimulus packages worldwide and the risk of a possible double-dip global recession in the West continue to threaten the Korean banking sector. Writer Mee Hyoe Koo
Index on the up: Ho Chi Minh Stock Exchange, VietnamBank lending is being used as a direct and often blunt lever by which to manage Vietnam's economy, proving a critical first defence against the global economic slump. But the medium-term consequences of over-interference may be another bubble, warn analysts. Writer Michelle Price
Missing out: the Philippine Stock Exchange has lost major domestic listings to the Singapore ExchangeA move to fully integrate ASEAN capital markets by 2015 is proving a powerful driving force for pan-ASEAN economic integration. Writer Michelle Price
Bidding up: last month Thanachart Bank, 49% owned by Canada's Bank of Nova Scotia, saw off HSBC to win control of Siam City Bank in a government auctionOn going financial reform will not be held back by Thailand's political troubles, say Thailand's bankers. Neither portfolio nor direct investment inflows have been impacted, and the country's government is pressing on with two masterplans for the financial sector and capital markets. Writer Brian Caplen
Canadia Tower: a symbol of Cambodia's growth period prior to the international financial crisisCambodia's government-engineered slowdown after five years of unsustainable economic growth could not have been implemented at a worse time, coming as it did just before the global financial crisis. Consequently the crisis has hit Cambodia's banks hard, though just how hard is a matter of some debate between the IMF and the country's senior bankers. Writer Brian Caplen
While Chinese banks continued to dominate The Banker's Asian ranking in terms of number and profits, Australia also put in a standout performance, recording the second highest Tier 1 capital despite only accounting for a small proportion of the region's banks. Writer Michelle Price
At your inconvenience: in 2006, Vietnam had only 46 ATMs for every 1 million peopleVietnam's large unbanked population and its growing middle class present a major opportunity for local and foreign banks alike, who see vast potential in the country's underdeveloped retail banking and consumer finance sectors. Writer Michelle Price
Up to speed: Tokyo Stock Exchange's new 'arrowhead' system is on a par with the dealing systems in New York and LondonTokyo's new arrowhead trading system is among a raft of high-performance upgrades to be launched across Asia-Pacific trading venues, bringing them up to speed with their US and European competitors. Writer Elton Cane
Build up: reinforcement of the Thai financial sector is planned to pave the way for increased international tradingUnfazed by continued political and economic turmoil, Thailand is embarking on major deregulation to strengthen its banking and finance sector and, in the grander scheme, to diversify the country's economic base. Writer Michelle Price
China has defied expectations by successfully establishing a number of state-owned, internationally competitive firms, but the country must increase its outward foreign direct investment if it is to establish a firmer footing in the global marketplace.
Trust and confidence in the Anglo-Saxon model of regulation have evaporated so much as a result of the financial crisis that Asian policy-makers are now beginning to rethink key issues about regulation from first principles.
The roll-out of the hyper-fast Chi-X alternative trading platform across the Asia-Pacific region and a shake-up in supervision in Australia signal the makings of a more competitive pan-Asian market. Writer Michelle Price
Margarito Teves, secretary of the Department of Finance of the PhilippinesThe Philippines' finance minister says that the archipelago's economy has remained relatively resilient during the downturn compared with its export-dependent neighbours. But the budget deficit remains an ongoing problem. Writer Michelle Price
After a five-month standstill following Lehman's collapse last September, activity in Japan's samurai bond market is beginning to pick up and is taking a new direction, breaking the taboo on non-sovereign issues. Writer Charles Smith
Sending profits home: remittances account for 10% of the Philippines' gross domestic productThe Philippines has managed to all but sidestep the global economic slump and its banking sector is in good shape, but broader structural changes in the Filipino economy will bring new challenges. Writer Michelle Price
Standing strong: China has continued to grow as a financial centre despite the global economic turbulenceThe growth of the Asian banking sector continued in 2008, with China building on its dominance in the region, dwarfing India's more modest growth path, while South Korean banks' share declined. Writer Geraldine Lambe
China's ambitions for an international financial centre in Shanghai are now clear. It has staggering market growth and a supportive policy environment, but there are still significant barriers to overcome. If China can realise its ambitions, will it be Shanghai that wins the prize? Writer Geraldine Lambe
Technology, in the guise of mobile and smart-card banking, is bringing the remote sectors of India's population within reach of the country's banks. Writer Rekha Mehon
China's leading banks have come through the credit crisis and resulting global recession well, on the whole posting strong results for 2008. The Banker profiles five of these banks, looking at the ways in which they have transformed themselves by targeting a wider range of businesses and expanding their product offering. Writer Stephen Timewell
In what came as a shock to many exuberant analysts, China's juggernaut economy slowed dramatically in the last months of 2008 with annual gross domestic product growth falling to 9.4% compared with 11.4% for 2007. The World Bank's recent forecast for 2009, which puts the Asian titan's economic output at a mere 7.2%, has been buoyed by a strong stimulus package of some $586bn.
For most of 2008, Asia's burgeoning economies managed to sidestep the worst of the global financial crisis. In the very latter stages of the year, however, a global dollar shortage conspired to devalue several regional currencies just as Western demand for Asian exports slumped to a disastrous low: heavily export-dependent economies, in particular South Korea and Taiwan, have been badly hit, with gross domestic product in emerging Asia, excluding India and China, plummeting some 15% in the final quarter of 2008, according to the International Monetary Fund (IMF).
The financial crisis seems to have encouraged the continuous growth of Asian banks and the declining presence of US and EU lenders, creating a gap between the new and the established banking regions. Asia, excluding Japan, is represented by 193 banks in the world ranking, nine more than last year and 19 more than two years ago. Banks from the 'Rest of the World' category also showed up in higher numbers, making a particularly big jump from last year. There were 33 two years ago, 36 last year and 49 in this year's ranking. Although relatively small in absolute terms, their increased presence is indicative of the growing influence of developing economies and their financial institutions in the listing.
Sadeq Sayeed
The CEO of Nomura for the EMEA region has taken the Japanese bank through its acquisition of Lehman Brothers' EMEA business and is determined to get maximum gains from the deal. Writer Geraldine Lambe
Tamil expats protest in Washington, DC
As Sri Lanka's civil war ends, domestic and global banks are eyeing potential stable investments in a country that has until now attracted a great deal of caution from financiers as a consequence of its long-running conflict. Writer Eric Ellis in Colombo
Although Thailand has managed to avoid much of the turmoil embroiling Western banks, the government is taking preventative action to ensure that its export and loan markets are not damaged by the slump in global demand. Writer Simon Montlake in Bangkok
The role of the Development Bank of Japan in seeing the country through its export crisis is mired in confusion as it is caught between its public past and private future. However, the state-owned Japan Bank for International Co-operation is having no such problems in bailing out the overseas operations of Japanese exporters. Writer Charles Smith in Tokyo
Senator Richard Lugar: queried the ADB's loans to India and China because of their relative wealth
It may have been delayed, but the aftershock of the crisis in Western banks is having huge consequences in Asia. As a result, the Asian Development Bank has seen a revival in its importance as people look to it to prevent the damage festering. Writer Nick Parsons
Taiwan's banking industry is in dire straits and remains in desperate need of consolidation. Many banks are hoping better relations with China may open up new revenue opportunities but this remains to be seen. Writer Michelle Price
Vivian Shyy, managing director of customer experience management, consumer banking, Standard Chartered Bank Taiwan
Nick van Gelder, head of Asia and Middle East infrastructure funds at Macquarie in Singapore
If Western banks pull back from project finance abroad, they will leave a large funding gap. But they will also create a golden opportunity for local players to grab market share. Writer Geraldine Lambe
Horst Seissinger, head of capital markets at KfW
Asian central banks are still key customers for European issuers, even if their reserve growth is slowing. The move out of emerging market currencies and sterling is also giving a boost to euro-denominated issues. Writer Michael Marray
After years of underdevelopment, Laos is reforming its laws and encouraging greater banking activity in anticipation of gaining WTO membership. Writer Nick Freeman in Vientiane.
Susan Buckley, QIC’s managing director of active management
Dislocation and falling equity markets are breathing life into the Australian corporate bond market, while a falling cash rate and government-led initiatives are also resuscitating the once lifeless government bond market. Writer Kate Hage.
Parallels between the Asian economic crisis 10 years ago and the current financial turmoil may hold some useful lessons for world governments as they steer through troubled times.
Despite being the leading player in one of the world’s largest markets, State Bank of India lags a long way behind the top global names. The bank’s chairman, O P Bhatt, discusses its strategy and direction. Interview by Stephen Timewell.
Ashok Sud, Standard Chartered Bank
Domestic issues have caused Vietnam’s underdeveloped banking sector to struggle in recent years. Will these difficulties be eased when foreign banks enter the market? Writer Nick Freeman.
Amando Tetangco, Bangko Sentral ng Pilipinas (BSP)
Despite the international credit crunch, banks in the Philippines grew lending by 24% in the first half of 2008 and asset quality continues to improve, says the Bangko Sentral ng Pilipinas (BSP) governor. Writer Ian Gill.
Margarito Teves, the Philippines finance secretary
The impact of the international slowdown on the Philippines economy has been more severe than expected, but revenue collections are on track and overseas remittances remain strong, says the Philippines finance secretary. Writer Ian Gill.
Banks in Indonesia are looking to commodity plays as inflation hinders growth in the region. Writer Simon Montlake in Jakarta.
China’s biggest banks have enjoyed another good year, but The Banker’s figures show that the steepest growth is among its other institutions. Stephen Timewell reports.
