scorecardresearch
Follow Us:
Tuesday, May 24, 2022

Indian banks to double share in global pool by FY15

The report says that the next decade that will see a faster consolidation among Indian banks.

Written by Agencies | Mumbai |
December 12, 2010 11:49:47 am

The share of domestic lenders in the global banking space is slated to almost double to 2.8 per cent by 2015 from 1.5 per cent at the end of 2009,says a McKinsey & Company report.

“The share of the domestic banking industry within the global space will almost double to 2.8 per cent by the end of fiscal 2015. This was 1.5 per cent at the end of FY09”,it says,adding that the banking and financial sector would remain the mainstay of the Indian economy.

“At the end of FY09,the revenue of the domestic banking industry stood at USD 2850 billion,which will scale to nearly USD 4000 billion by the end of FY15,” it further said.

Besides,the report says that the next decade that will see a faster consolidation among Indian banks will have at least five-six of them in the global 100 top banks league.

Best of Express Premium

Quad: Opportunities, challengesPremium
Prashant Kishor: ‘In the next 20-30 years, Indian politics will revolve a...Premium
Tempered by power, BJP’s shift away from 1989 Palampur Resolution o...Premium
Kaun lega Prithviraj Chauhan: Now playing in Rajasthan, a caste trianglePremium

At present,the market capitalisation of top five banks led by State Bank of India,ICICI Bank,and Punjab National Bank,will rise from 55 per cent in 2005 to 66 per cent by the end of this fiscal.

During the past one decade,the revenues of the domestic banks have grown more than four-fold from USD 11.8 billion in 2001 to USD 46.9 billion in 2010,while their net profit has soared nearly nine-fold to USD 12.06 billion in 2010 from a paltry USD 1.41 billion in 2001.

For all the latest News Archive News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement