India’s banking market is full of homegrown lenders and financial institutions, but what does the future of international banks in India look like? As they are trying to make a claim for market share, Retail Banker International looks at some of the key international banks in India.
Future of international banks in India: what’s next?
The banking market in India is made up of 27 public sector banks, 44 foreign banks, 56 regional rural banks, 1589 urban cooperative banks and 93,550 rural cooperative banks. According to the India Brand Equity Foundation (IBEF) bank credit grew at 12.64% year-on-year to Rs 85.511 lakh crore, May 2018. Some Indian banks in the market include, Bank of India, ICICI, City Union and Indian Overseas Bank.
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Citi Bank
Citi began its operations in India in 1902, Kolkata. Now they are a key investor in the Indian financial market. In 2018 they have launched India’s first home loan linked to the 3-month Government of India Treasury Bill Benchmark Rate. The products and services that Citi India offers are divided into two main segments, Institutional Clients Group (ICG) and Global Consumer Bank (GCB). ICG serves products, services and executions regarding global banking, global markets, treasury and trade solutions and securities and fund services.
Standard Chartered Bank
Standard Chartered India has 100 branches across 43 cities and have been operating in India since 1858. The significant segments that they deal with include; corporate and institutional banking, commercial and private banking and retail banking. They also have various subsidiaries operating in India. They are also the main sponsor of Liverpool Football Club.
HSBC
HSBC originated in India in 1853. It now offers products and services to corporate and commercial banking clients and retail customers. HSBC provided India with its first ATM in 1987. It serves its clients through three global businesses: retail banking and wealth management, commercial banking, global banking and markets.
Deutsche Bank
Deutsche bank in India was first opened in Kolkata in 1896. It offers financial services throughout the world. In India they provide fully integrated financial services to Indian corporate, institutional and individual clients. Services include on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking and business processes outsourcing.
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By GlobalDataRoyal Bank of Scotland
RBS first opened in India in 1921. It has teams across five major metro areas and covers risk, global finance services and other specialisms such as technology, payments and transformation and operations. RBS Foundation India was created in 2007 to support enterprise and entrepreneurship in poorer communities.
