"You kind of needed to think about this 30 years ago," says Stuart Gulliver, who runs hsbc's investment bank, when asked about Western banks expanding in emerging markets. He has a point.rnThere are only two kinds of Western banks that are big in developing countries, and both have been at it for quite a while. The first are the global network banks which have a limited presence in lots of countries which they use to tap internationally minded companies and consumers: Citigroup, hsbc and Standard Chartered. The second are the lenders that have "gone native" with a deep retail presence, most notably Santander and bbva in Latin America and UniCredit in eastern Europe.
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