Copying and distributing are prohibited without permission of the publisher
Champagne put on ice
01 December 2007
Banks in the region have emerged almost without a blemish from the US sub-prime mortgage crisis, reports Will Roberts. But that does not mean it is a time for celebration.
Read more:
subprime
HSH Nordbank
India
consolidation
Olympic Games
This year has been a testing time for banks in the Asia-Pacific region – the sub-prime mortgage crisis may have had its epicentre in the US but its shockwaves continue to inflict damage on a global scale with the full extent of the disaster as yet unknown.
With escalating fuel prices, talk of a looming recession and the inevitable aviation downturn creating a bitter cocktail, it could reasonably be assumed that banks have been left with a bad taste in their mouths. But, despite such unfavourable conditions, banks have performed well – some very well – and seem to have emerged relatively unscathed from the credit crisis. Indeed, the mood is emphatically upbeat.
"It's been a bumper year, with deal after deal," says John Francis, senior vice-president at HSH Nordbank. "Aircraft orders have been strong and airlines in general have performed well."
John Duffy, head of transportation (Asia) at the bank, echoes this...
Access to this content is denied because you are not logged in. Please login to view this content
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.
