The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

The Asean alternative emerges

As growth in China falters and India seems to spiral ever more helplessly downward, southeast Asia has become central to the fortunes of banks in the Asia-Pacific region.

The Association of South East Asian Nations (Asean), in particular Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam are important to global banks and home to some of the most successful and innovative emerging local Asian players.

Less economically developed Asean nations, including Myanmar, Cambodia and Laos, are also central to the efforts of banks seeking to capitalize on what could be spectacular growth over the coming years. The Asean region is home to 600 million people, underlining the importance to banks of building a profitable and lasting franchise.

The region’s growth is being fuelled by the need for infrastructure in the form of roads, power plants and ports, and most governments have also demonstrated a desire to broaden capital markets to fund development.

A 2011 report by McKinsey pointed out that capital market and investment banking revenues in the five largest Asean countries were already higher than would normally be indicated by their GDP per capita. And as far back as 2007, at the 12th summit of Asean countries, leaders affirmed their commitment to the creation of the so-called Asean Economic Community by 2015.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree