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Dun & Bradstreet India is pleased to release the seventh edition of its banking publication ‘India’s Top Banks 2013’. Global growth remained largely subdued in 2013, with International Monetary Fund (IMF) revising its global growth forecast down to 3.1% in 2013 from 3.3% earlier. The global banking industry continued to be under stress during the last year despite strong policy stances taken in the Euro area and the US. Although the global financial stability improved marginally in April 2013, deteriorating asset quality and liquidity concerns have raised concerns significantly regarding soundness of global banking industry in 2013.

Despite the financial instability, Indian banks continued to display high levels of resilience aided by strong economic policies. The industry saw a growth of 16% and 11.6% in total income and net profit respectively in FY13. However, moderation in credit demand led to the slowdown in credit off take from 17.9% in FY12 to 15.8% in FY13. Despite this, the banks managed to retain deposit growth of 15% for FY12 and FY13.

The total business of SCBs grew 15.4% in FY13, slower than 16.2% in FY12. The total business of Public Sector Banks (PSBs) stood at ` 1,021.8 bn in FY13, thus, accounting for more than 75% of business of SCBs, which stood at ` 1,321.7 bn in FY13.

 

RBI initiated a series of stringent policy measures to enable Indian banks adopt the Basel III norms, to curb further depreciation of Indian rupee and improve asset quality of the banks. These measures coupled with issue of new banking licenses will ensure that the Indian banking sector evolves, making the sector innovative and competitive to match global banking standards. Currently, the Indian banking system is on the threshold of a new growth phase. Achieving higher growth and maintaining asset quality will play a vital role in shaping the future of the industry in the near term.

The seventh edition of ‘India’s Top Banks 2013’ attempts to map the growth of the Indian banking industry, while profiling its leading players. We are confident that this publication will serve as an authoritative and useful ready reference tool for business leaders globally. ‘India’s Top Banks 2013’ will be a key source of insightful information for the Indian banking sector and will provide pertinent information on leading institutions.

I hope you will enjoy reading this edition and look forward to receiving your suggestions.

Kaushal Sampat
President & CEO - India
Dun & Bradstreet