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.

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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.