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U.K.-Based Banking Group Standard Chartered Targets Thai Consumers.
Byline: Chiratas Nivatpumin
Dec. 1--Steady economic growth, low debt and high savings will support growth opportunities for Asian banks in 2004, according to Mervyn Davies, group chief executive of Standard Chartered Bank.
"If you look at Asian banks, it's different from Europe or the United States. Asian households have not leverage themselves in the same way as in the United Kingdom or the US," he said.
Indeed, it was the 1997-98 crisis that helped encourage Asian households to cut spending and debt and boost savings, factors that have now contributed to the strong uptick in consumer consumption throughout the region as optimism for future economic growth picks up.
And with corporate banking still ...
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Source: HighBeam Research, U.K.-Based Banking Group Standard Chartered Targets Thai Consumers.