The bigger foreign banks in the country, SCB and HSBC have not activated new branches since 2009 and hold 94 and 50 branches respectively. Even as equity marets get bullish and a return to expansionaory policy is considered byt he Central bank, rate cuts following ina few months, not many foreign operations are considering a retail presence and growth in India since 2007 when DBS and Barclays showed interst and since have not expanded after 2 branches apiece in 2010.
This year, with no new branches the 5 licenses given will take SCB’s strength to 97 and Deutsche Bank to 17 with additions in Ahmedabad and Surat
Global players hold 7% of the assets in the Indian market, HSBC leading with $6bln in assets
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- Foreign Banks in India: India a good FDI destination in 2011 (awardz.wordpress.com)
- Is HSBC retail competitive enough to keep 6000 jobs? (Foreign Banks in India) (awardz.wordpress.com)