Foreign banks made Rs 9400 crore through fee income in 2011-12, says RBI
Foreign bank branches operating in India generated a fee income of Rs. 9400 crore where as Indian bank branches over seas made a fee income of only Rs.6800 crore in 2011-12.
Credit growth of Indian bank branches operating overseas grew by 27% to Rs. 4,45,100 crore and foreign bank branches operating in India grew their loan book by 21.8% to Rs. 2,41,300 crore during 2011-12.
"Bahrain, Belgium, Hong Kong, Japan, Singapore, Sri Lanka, UAE, UK and USA were the major countries which accounted together for nearly 90.8 per cent of the total trade in banking services of the branches of Indian banks operating abroad," said the Reserve Bank of India in its survey.
Major sources of fee income for Indian banks' overseas branches were credit linked services and trade finance, while most foreign banks drew their fee income from trading in stocks, detrivatives, securities, foreign exchange trading, financial consultancy and advisory