The banks of Asia, especially those located in Japan and China, are increasingly present in European and American corporate bond markets. Just within a year, the market share of Asian financial institutions almost doubled to reach an all-time high. As Dealogic has it, the total value of transactions carried out via Asian banks in 2012 came in at 40 billion U.S. dollars.
The Telegraph sees it as a tell-tale sign that Asian financial institutions are gaining momentum in the world’s arena.
Meanwhile, the largest investment banks in the West lost some clout, having sold a substantial portion of the bonds.
China Construction Bank and China Development Bank are currently at a distinct advantage. In the recent three years, these two banks managed to boost the shares on the global market by more than three times. Among Japanese banks, Mizuho and Mitsubishi UFJ Financial Group are running at the forefront.
Asian banks are picking up steam at the expense of European counterparts that are getting rid of the bonds.
