You need a bank to build a house.

Banking stocks are taking leadership in emerging economies. Booming growth needs capital. Businesses must borrow to set up shop or expand. New consuming classes are demanding homes. That's real-estate development, construction and mortgages.

Many foreign banks, badly damaged in the global crisis, are rebounding fast.

The standout in this group may be Banco Santander Brasil (BSBR), a recent spinoff from Spanish banking giant Banco Santander (STD).

Santander Brasil came public Oct. 7 at $13.40 per share. The stock has built a square-box base with a buy point at 14.68.

Santander Brasil's results were hurt in the recent chaos, like almost all banks. But EPS in the past three quarters surged at a triple-digit pace, although Q1 and Q2 were reported as one half-yearly result. Estimates for the current period are running at a 140% gain.

After-tax margin in Q3 rose to 12%, its best showing in years.

With so little history, sponsorship does not yet appear in the spinoff bank. But the former parent shows excellent sponsorship through its Madrid listing.