AAPI Nexus: Policy, Practice and Community

This study discusses the empirical evidence regarding the direction of Asian American banks’ evolution in light of the recent financial crisis and other challenges associated with the increasing competition from large mainstream financial institutions in ethnic niche markets. Specifically, the study focuses on the evolution of Chinese and Korean banking and its role in Asian neighborhoods during the past decade in Los Angeles and New York, the two U.S. metropolitan areas with the largest concentrations of Asian population and Asian-owned banks. Findings indicate that Asian banks have been able to sustain their presence and activities in coethnic communities in the face of the challenges associated with increasing competitive environments and the volatility of the financial market.