High growth Asian banks have largely avoided the huge credit loses that have pushed Lehman Brothers to the brink and will remain wary of buying into Western banks.

High growth Asian banks have largely avoided the huge credit loses that have pushed Lehman Brothers to the brink and will remain wary of buying into Western banks.

As US and European financial firms suffer from crucial credit shortages, analysts and investors say many Asian banks will be cautious about global expansion instead choosing to focus on home markets where there is still plenty of room for growth.

Acquisitions in Europe and the US by Asian banks total £2.5 billion so far this year, down 12 per cent from the same period last year

Hugh Young, managing director of Aberdeen Asset Management Asia, said: “Given their relative strengths, they would have opportunities [overseas], but why bother?”

He added: “There’s enough to do on their doorsteps.”

Despite a weakening US economy, Standard & Poor’s recently stated that Asian banks will be able to avert a crisis because of the region’s strong economic outlook and a better credit profile of borrowers than in the US, where higher lending to people with poor credit histories sparked the housing market meltdown.

Asian banks will still be kept busy as regional, export-dependent economies cool and financial markets tumble, steadily strengthening their presence across the region.