Banks are posting improved results and have ended their headcount freezes in Asia. Hiring is heating up, and the economies of both Singapore and Hong Kong are starting to grow again.

Does this all mean that we can declare the financial crisis is finally over in Asia? If employment is anything to go by, perhaps the answer is yes.

A wide range of banks have recently returned to recruitment – from credit-crunched companies such as Citi and RBS, to surviving global giants Goldman Sachs, JP Morgan and HSBC. Emerging Asian powerhouses like Standard Chartered, Barclays and ANZ are also getting in on the act.

And all this hiring is happening amid growing evidence that Asian economies are decoupling from their sluggish Western counterparts and that the regional recovery could indeed be V-shaped.

The four emerging Asian economies which have reported GDP figures for the second quarter (China, Indonesia, South Korea and Singapore) grew by an encouraging average annualised rate of more than 10 per cent.

Is this enough to call time on the crisis, or are we in danger of jumping the gun? After all, most large banks are headquartered in New York or Europe, so their Asian headcounts are still controlled from abroad. Firms might be recruiting, but the numbers involved are far smaller than two years ago, and the people they want are mainly senior specialists.

Let us know your thoughts below.