The accelerating shift in economic power from the developed to emerging economies is dramatically changing the banking industry across the world.
- The emerging economies’ banking sectors are expected to outgrow those in the developed economies by an even greater margin than we projected before the financial crisis
- By 2050 ‘E7’ could have domestic banking assets and profits that exceeding the G7 by around 50%
- China could overtake the US in terms of the size of their domestic banking sectors by around 2023
- India has particularly strong long-term growth potential; it could become the third largest domestic banking sector by 2050 after China and the US