Banking on Asia
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THE CONSUMER BANKING OPPORTUNITY
76% of all Chinese bank card usage
involves cash transactions
By some projections, retail banking alone could potentially generate $180 billion in new revenues between 2005 and 2010. Yet Asia’s banks have only recently awakened to the opportunity of the consumer market, and are now faced with change on a massive scale in order to capitalize on it. While changes to date have been comparatively rapid and dramatic, most observers believe that banks in Asia still have a long way to go to achieve efficiency and sustainable growth. Doing so will require not only operational and technical modernization, but also a cultural transformation and a profound change in the role banks have historically played in Asia’s economies and societies.