Emerging market banks remain attractive despite developed market banking turmoil

The direct risk of contagion is very low. The problems we saw at US banks were down to deposit concentration and asset-liability mismatches. Although there is variation across emerging economies, we broadly see a positive picture for emerging market banks, which are better capitalised and subject to tighter regulations. Amundi: EM energy transition is a 'low hanging fruit' The banks we focus on are high quality, deposit-taking franchises, with granular (or well-diversified) deposit bases and closely matched assets and liabilities. They are therefore not exposed to the deposit fl...