The Best Emerging Market Banks in Asia 2009
In an earlier article, I wrote about the The Best Emerging Market Banks in Latin America 2009. In this post, the best emerging market banks in Asia are listed.
| Country | Bank |
|---|---|
| Armenia | HSBC Armenia |
| Azerbaijan | International Bank of Azerbaijan |
| Bangladesh | Janata Bank |
| China | ICBC |
| Georgia | Bank of Georgia |
| India | HDFC Bank |
| Indonesia | PT Bank Central Asia |
| Kazakhstan | Kazkommertsbank |
| Kyrgyzstan | Asia Universal Bank |
| Macau | Seng Heng Bank |
| Malaysia | Public Bank Berhad |
| Mongolia | Khan Bank |
| Pakistan | Habib Bank |
| Philippines | Bank of the Philippine Islands |
| South Korea | Shinhan Bank |
| Sri Lanka | Commercial Bank of Ceylon |
| Taiwan | Chinatrust Commercial Bank |
| Thailand | Siam Commercial Bank |
| Uzbekistan | Credit-Standard Bank |
| Vietnam | Asia Commercial Bank |
Shinhan Financial Group (SHG) of South Korea and HDFC Bank (HDB) of India trade in the New York Stock Exchange. Shinhan does not pay a regular dividend. As per a recent Marketwatch article, though many Korean banks have rallied in the past few weeks , bad loans and lower profit margins may drag them lower. India’s HDFC bank (HDB) is expensive with a P/E ratio of 31.29. HDB has a dividend yield of just 0.54%. The latest earnings report showed a rise in profits but provisions for non-performing assets are also increasing. HDB is not a good buy at these levels.
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