Only One Indian Bank among Top 17 BRIC Banks

By siliconindia   |   Thursday, 19 January 2012, 01:06 IST   |    5 Comments
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Bangalore: State Bank of India (SBI) is the only Indian bank in the Top 17 BRIC banks, as listed by Global Finance, an international finance magazine. This list gives details of the Top 50 banks in the emerging markets, especially the BRIC nations. Top 20 of this list comprises banks from the BRIC nations and South Korea, with South Korea occupying the last 3 slots. This list is generated based on the total assets of the banks. Public sector banks dominate the market right now in terms of their sizes. Government owned banks make up about 70 percent of the banks in India, 50 percent in China and 40 percent in Russia and Brazil. It is surprising to see 10 banks from China in the Top 17 BRIC banks. Moreover, it is surprising that despite 70 percent of our banks being government run, only one Indian bank is present on the Top 20 list. Other Indian banks that are present in the list of Top 50 emerging markets banks are – ICICI 35th, Punjab National Bank 39th, Bank of Baroda 42nd, Bank of India 43rd and Canara Bank 47th.   

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State Bank of India (SBI) is the largest government owned bank in India. It is also the oldest bank in the country. Established during British Raj, SBI has flourished tremendously in the last two centuries. It has more than 13,500 branches in the country and has the most rural reach. It also has nearly 155 branches in about 30 countries all over the world, including – Nigeria, Canada and U.S. SBI also has the most number of ATMs in the country. It provides various services like – car loans, home loans, fund management, commercial and factoring services and the like. SBI is the only bank which has various tie-ups with NGOs. SBI is at the 14th position of the Top 17 BRIC banks, with an asset value of $274,411 million. Chairman of SBI is Pratip Chaudhuri said “One reason that SBI is doing so well presently may be its reach in the interiors of the country, which expands the customer base to a great extent. SBI also pays great attention to the instructions of Reserve Bank of India (RBI).



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