Asia no longer a panacea for banks
The Asian commercial banking operations of global banks are losing their shine as the dislocation caused by the global recession impacts companies in the region.
As recently as the middle of last year, banks like HSBC and Standard Chartered were being touted as better investments than some of their global counterparts because emerging markets were slowing less than others. But it is now generally agreed that Asia has been hard-hit by the global recession and the myth of decoupling has been exposed as just that û a myth.
ôThe slowdown in Asia has exacerbated an already bleak situation for the commercial banking business of a...
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