Exhibit 5 The average financial depth in advanced economies is three times the level in emerging nations, with the exception of China 1 Financial depth by region and asset class,2Q15 % of GDP Loans Government bonds Financial sector bonds Nonfinancial corporate bonds Equity Emerging economy average Advanced economy average Percentage (excluding China) = 149% = 446% point change, 2011–2Q15 Japan 174 195 52 16 122 558 70 United States 113 89 82 29 138 451 21 Western Europe (with United 159 75 86 13 90 423 21 Kingdom) Other 149 47 47 25 145 413 61 developed China 196 15 8 91 326 82 17 India 66 30 3 70 172 6 4 Other 69 23 8 59 168 6 emerging Asia 9 Middle East 81 114 61 160 42 4 Latin America 49 40 9 38 156 16 20 Central Eastern 6 Europe and 74 23 27 137 10 Commonwealth of 8 Independent States Africa 42 172 35 97 8 3 1 Calculated as total regional debt and equity outstanding divided by regional GDP. NOTE: Numbers may not sum due to rounding. SOURCE: McKinsey Global Institute Financial Assets database; McKinsey Global Institute analysis McKinsey Global Institute Digital finance for all: Powering inclusive growth in emerging economies 27