Survey findings include:
• Emerging markets dominate the growth strategies of major global banks. At the end of 2010, five of the ten largest banks in the world by market capitalization were Chinese or Brazilian.
• Foreign ownership rules and limits on issuing of new banking and branch licenses make it difficult for foreign banks' to penetrate and build scale in emerging markets where domestic banks have a distinct competitive advantage.
• Regulation is choking the growth agenda in the West. Meanwhile emerging markets banks appear to be pursuing domestic expansion opportunities with little interest in expanding outside home regions other than to serve their nationals and corporates overseas.
• The largest domestic and regional banks outperformed their global counterparts over the period 2000 to 2010 based on our analysis of 40 of the largest banks.