Changing Face Of Banks In 2010

After a dismal 2009, the year 2010 is expected to be a watershed year for banks in the country. While most banks in the country and indeed across the region undertook extraordinary levels of provisioning in 2009, owing to an extraordinary global and regional economic environment, analysts expect 2010 to be the year of recovery.Indian banks have compared favourably on growth, asset quality and profitability with other regional banks over the last few years. The banking index has grown a lot since 2001. Policy makers have made some notable changes in policy and regulation to help strengthen the sector.

The SBI is adding 23 new branches abroad bringing its foreign-branch network number to 160 by March 2010. This will cement its leading position as the bank with the largest global presence among local peers.

Amongst the private banks, Axis Bank's net profit surged by 32 per cent to US$ 115.4 million on 21.2 per cent rise in total income to US$ 852.16 million in the second quarter of 2009-10, over the corresponding period last year. HDFC Bank has posted a 32 per cent rise in its net profit at US$ 175.4 million for the quarter ended December 31, 2009 over the figure of US$ 128.05 million for the same quarter in the previous year.In the Third Quarter Review of Monetary Policy for 2009-10, the RBI observed that the Indian economy showed a degree of resilience as it recorded a better-than-expected growth of 7.9 per cent during the second quarter of 2009-10.

The future forecast discusses the future prospects of different arms of banking industry including rural banking, The future forecast discusses the future prospects of different arms of banking industry including rural banking, bancassurance, financial cards, mobile banking, role of technology in rural banking, pension funds, and the future course of action and strategies for pension fund industry to be taken at macro level., financial cards, mobile banking, role of technology in rural banking, pension funds, and the future course of action and strategies for pension fund industry to be taken at macro level.