IT is taking time, but Western investors are coming to grips with the concept that Asian banking is a growth business.
The swoop on Midland by the Hongkong and Shanghai Banking Corp opened a lot of eyes to the financial strength that exists around the Pacific Rim. This week, Standard Chartered's results brought the attractions of our banks further into focus.
End-of-week trading in London saw Standard Chartered shares shooting up towards its all-time high of GBP10 as buyers piled in.
There was talk of a takeover bid, but analysts point out that the bank may already have built up its own self-defence mechanism with its latest results.
Much of the real enthusiasm is due to this week's results, a 35 per cent jump in profits to $1.26 billion.
But the Far East story is also fuelling demand.