Banks' foreign office FY13 loan up 32% to Rs 5.86 lakh cr: RBI

Tags: News
Indian bank branches operating abroad witnessed credit growth of 31.7 per cent to Rs 5.86 lakh crore ($ 107.7 billion) in 2012-13, while their deposits grew by 45.5 per cent to Rs 3.93 lakh crore, RBI data showed today.

Credit extended by foreign banks operating in India increased by 27.5 per cent to Rs 3.08 lakh crore during FY13, their deposits were moderately up 3.2 per cent to Rs 2.84 lakh crore, Reserve Bank said in 'Survey on International Trade in Banking Services: 2012-13'.

"The total income of Indian overseas branches increased by 28.1 per cent to Rs 36,560 crore ($ 6.7 billion) in 2012-13. In case of foreign banks operating in India, the total income increased by 13.1 per cent to Rs 52,840 crore ($ 9.7 billion)," RBI said.

Survey intended to provide information on international trade in banking services for India in respect of the offices of Indian banks abroad and foreign banks in India, covered 170 overseas branches, 184 overseas subsidiaries of Indian banks and 316 branches of foreign banks in India.

As per the survey, India's 170 overseas bank branches generated fee income of Rs 9,350 crore ($ 1.7 billion) in 2012-13, up from Rs 6,800 crore ($ 1.4 billion) in previous fiscal.

However, for the foreign banks in India, total fee income declined to Rs 7,450 crore ($ 1.4 billion) from Rs 9,430 crore ($ 2 billion) in the previous year.

Indian banks abroad generated major share of fee income by credit related and trade finance services. Foreign banks in India generated major source of fee income by derivative, stock, securities, foreign exchange trading services and financial consultancy and advisory services.

"Bahrain, Belgium, Hong Kong, Japan, Singapore, Sri Lanka, UAE, UK and USA were the major countries which together accounted for nearly 92.2 per cent of the total banking services of the branches of Indian banks operating abroad."

Further, the survey pointed that Indian banks branches abroad employed 64.5 per cent of employees from local sources, 32.5 per cent from India and remaining 3 per cent from other countries.

In case of foreign banks working in India, the share of local employees in total employees was 99.6 per cent in 2012-13.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India would have done well not to supress the 'Bofors interview'

    Bofors is one case that refuses to go away two-and-half decades after it grabbed public attention and became a byword for political corruption, claimi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

Biogas Potential in India

Biogas is a form of renewable energy produced from organic ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture