"Asia remains a complex market where only the most deeply rooted or most specialized financial institutions can build attractive and sustainable franchises. Acquiring a Profit Mindset provides a compelling, and not often found, fact-based assessment of the exciting opportunities and challenges that lie ahead in Asian banking." - Mervyn Davies, Chief Executive Officer, Standard Chartered Bank "The biggest change in the transformation of Shinsei Bank was our leadership's shift from being volume oriented to developing a self-reliant profit mindset. This well researched book lays out the rich opportunities open to banks across Asia and the secrets to overcoming the mindset challenges they face as they strive to achieve sustainable profitablility." - Masamoto Yashiro, Chairman & President, Shinsei Bank
"This book is a real treasure and an excellent guide, not only for professionals in finance but also corporate executives involved in formulating Asian business strategies." - Takahiro Moriguchi, Deputy President, Bank of Tokyo-Mitsubishi
Contained in this book is the wisdom that McKinsey consultants have been sharing with leading banks in Asia, now available to a general readership. This book should also be essential reading for policy-makers throughout Asia. David K.P.Li, Chairman and Chief Executive Officer, Bank of East Asia
The banking markets of Asia contain some of the largest opportunities in the world. These riches, however, come with risks and volatility. As the Asian banking markets try to leapfrog their way into the 21st century, boom-bust cycles will reoccur. Succeeding in this lucrative, but challenging, environment requires bankers to fundamentally change their game. No longer is it sufficient to stake out markets and focus on increasing volume. Winners will be those who put focused profit strategies at the center of their agendas. They will be the banks who "acquire a new profit mindset".
This sequel to Banking in Asia: The End of Entitlement clearly lays out how Asian banking has evolved since the crisis of the mid-1990s and describes the new skills needed to succeed. In this remarkably detailed and fact-based analysis, the McKinsey & Company authors describe the fundamental forces shaping the banking markets in this dynamic region. Central to this change is the growing role of mergers, acquisitions and alliances in executing the strategies of leading banks. Covering the major countries and banking businesses in Asia, highlights include:
- Personal Financial Services: Many Aspire, Few Attain
- Asset Management: Turning Savers into Investors
- China: A Giant in a Delicate Balance
- India: Market of Extremes
- Cross-Border M&A: Buyer Beware
- International Alliances: Not for the Faint-Hearted
This is a required addition to the library of anyone involved in the future of Asian banking.
About the Author
Tab Bowers is a director of McKinsey & Company, Inc. based in Tokyo. He leads McKinsey's Financial Institutions Practice in Asia and has worked with financial service clients in New York, California and across Asia. Greg Gibb, a principal based in Taiwan, is a core member of McKisey's Corporate Finance and Financial Institutions practices in Asia.
Jeffrey Wong is a Consultant with McKinsey's Asia Corporate Finance & Strategy Practice, based in Shanghai. He has served several leading Asian and global financial institutions on strategic and policy issues.
