Twenty-one foreign banks collectively earned a net profit of Rs 2,019 crore from their Indian operations in financial year 2003-2004. | |
| Three major foreign banks "" Standard Chartered Bank, Citi and HSBC "" together accounted 77.4 per cent (Rs 1,562 crore) of total net profit of Rs 2,019 crore. |
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| The collective net profit was 19.3 per cent higher than last year's collective net profit of Rs 1,693 crore. But the same set of banks had 22.5 per cent growth in fiscal 2003 and 50.4 per cent in fiscal 2002. |
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| Interest income rose by modest 2 per cent to Rs 7,786 crore, while their income from other sources shot up by 29 per cent to Rs 3,525 crore in fiscal 2004. At the same time, their interest outgo declined 13.9 per cent from Rs 4,298 crore to Rs 3,700 crore. |
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| Of the 21 foreign banks, only three banks posted net losses in fiscal 2004. They were American Express Bank (net loss of Rs 23.57 crore), BNP Paribas (Rs 13.07 crore) and Oman International (Rs 2.08 crore). |
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| HSBC, with 162 per cent rise in net profit to Rs 394 crore, topped the list of profit making banks. The net profit of CitiBank surged 46 per cent from Rs 391 crore to Rs 572 crore. However, Standard Chartered Bank witnessed a drop in net profit. Stanchart's net profit fell from Rs 855 crore to Rs 596 crore. |
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| Deutsche Bank reported a net profit of Rs 273 crore in fiscal 2004 "" up 60 per cent, followed by Barclays Bank, with a net profit of Rs 72 crore, Bank of America (Rs 64 crore), Bank of Nova Scotia (Rs 17.92 crore) and Credit Lyonnais (Rs 9.69 crore). |
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| Standard Chartered Bank reported the highest interest income of Rs 2,523 crore followed by CitiBank (Rs 2,280 crore), HSBC (Rs 1,414 crore), American Express Bank (Rs 306 crore) and Deutsche Bank (Rs 301 crore). |
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| On other income front, CitiBank earned the highest income from other sources of Rs 887 crore, followed by HSBC Rs 705 crore, Standard Chartered Bank Rs 699 crore, Deutsche Bank Rs 605 crore and American Express Bank Rs 220 crore. |
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