A special report on banking in emerging markets: The bigger and bigger picture  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 395 no. 8682 (May 2010), page 54+4.
Topik: Banks; Emerging Markets; GDP; Debt
Fulltext: The bigger and bigger picture.pdf (691.76KB)

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THERE is only one thing that is still small about banks in emerging economies: their bosses’ pay packets. The head of China’s ICBC, the world’s biggest bank by market value, received just under $134,000 in 2009, a couple of decimal places shy of his Western counterparts. On all other measures these firms are big enough to make a Wall Street banker reconsider his status in the universe. In terms of market value they now account for almost half the industry’s total worldwide, nearly twice as much as in 2005. That might reflect an excess of optimism, but emerging-market banks are big by other measures too. According to Tab Bowers, a consultant at McKinsey, they account for about a third of the industry’s global revenues, matching the emerging countries’ share of world GDP. By the most solid measures of all, profits, dividends and Tier-1 capital, listed banks domiciled in emerging markets now account for between 27% and 53% of the global industry (see chart 1). China is responsible for about half of this share. Big Western banks’ profits from developing countries add up to perhaps a quarter of the local firms’.

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