Pillars of strength: Past crises taught Sands (right) and Bindra how to prosper, not panic
Emerging markets have often been unkind to banks. Unstable governments, dubious corporate management practices and wild swings in investor confidence can make the developing world far less predictable than the more advanced economies of the West. But the current financial crisis has stood a lot of the conventional wisdom on its head. As the Wall Street subprime meltdown sent prominent banks in the U.S. and Europe tumbling, financial institutions doing most of their business in developing countries have come through the crisis looking healthier and smarter.
So it has been with...
