The appeal of Asia has seldom been stronger for corporate and investment banks. Supported by financial systems that proved resilient during the recent financial crisis, the region continues to enjoy rates of economic growth superior to those of more developed Western markets. And the prospects for new revenues for most banking businesses look enticing over the next two to three years.

As of 2009, Asia accounted for 36 percent of global corporate banking revenues and 21 percent of global capital market and investment-banking revenues. McKinsey’s global research, which identified opportunities worth $200 billion to $220 billion over the next five years, suggests these proportions may be set to rise (exhibit). We estimate, for example, that 45 percent of all new growth in global wholesale banking revenues up to 2014 will take place in the region, and that emerging Asia¹ will grow about three times faster than developed Asia.²