Seventy-two percent of lenders in the Asia Pacific region expect revenues to grow by up to 10 percent in 2012, according to a newly released report by IDC Financial Insights.
The research firm surveyed 127 senior decision makers across Asia Pacific and 12 percent of those surveyed predict growth to go beyond 10 percent.
These lenders are upbeat about the growth due to new opportunities in Asia giving a lot of hope to the region's banking outlook for 2012.
"Financial institutions across Asia Pacific have to look at uniquely Asian opportunities for sustainable growth," said Michael Araneta, associate consulting and research director at IDC Financial Insights Asia/Pacific.
"Specifically, these are opportunities that do not rely on the performance of their European or U.S. counterparts or the western economic position."
New priority industries
The survey identifying abundant opportunities in Asia was conducted on 23 February 2012 during IDC Financial Insights' Eighth Asian Financial Services (AFS) Congress held at the Marina Bay Sands in Singapore.
Araneta noted that these opportunities are brought about by governments identifying new priority industries such as aerospace and defence in Singapore, green technology in China, and hi-tech segments in Taiwan and China.
"IDC Financial Insights also identified several Asian corporations that are seeking business beyond their home markets, and are thus prospective targets for the corporate banking units of domestic banks."
Despite a hopeful business environment, respondents expect the Eurozone crisis, dependence on western trade, and over-regulation to impede the region's growth momentum in 2012.
These threats, according to IDC Financial Insights, can be overcome by using sophisticated risk management and channel efficiency technologies.
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