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By John EWART, Director and Investment Manager, Aubrey Capital Management
Historically, emerging market banking has been associated with currency volatility, conservative lending of capital, and the risk of state interference. But the last decade has quietly written a more nuanced story.
The banking industry across the Emerging Market equity universe has been reshaped by technology, demographics and policy. Smartphone penetration and digital identity schemes have pulled hundreds of millions of unbanked citizens into formal finance, while rising Asian incomes have fuelled demand for wealth management services. Established platforms and brands face new competitors, leaving an industry with growth drivers that look different from those in...
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