Given the size of its economy and the rapid pace at which it is growing, Nigeria has a good chance of establishing an international financial centre to rival Johannesburg – Africa's only IFC. The west African country is already close to creating the legal framework necessary, but overcoming the negative perceptions of many international banks will prove a tricky obstacle to overcome.
Singapore and Hong Kong continue to attract the highest levels of foreign direct investment among Asian international finance centres. But there is change afoot elsewhere, with increasing levels of investment in Beijing causing it to replace Shanghai as the third most attractive Asian IFC for FDI.
Staff expenses are the largest single component of most banks' operating expenses and provide a good indication of the efficiency of each bank's business model. The Banker has tracked down the countries with the lowest and highest staff costs to discover where the most and least productive bankers are based.
While the Asia-Pacific region's growth story over the past few decades has been powered by Japan and then China, at least as far as banking is concerned, when these two countries are removed from The Banker's Asia-Pacific rankings, it is Australia's banks that come to the fore.
The Asian city state of Singapore attracted more foreign investment in its financial sector than any other IFC in the world over the past year. Geneva, Edinburgh and Glasgow were notable risers in the ranking, while troubled Madrid lost significant ground.