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Showing posts with label foreign banks. Show all posts
Showing posts with label foreign banks. Show all posts

Monday, 26 March 2018

07:15

Foreign Banks Quitting India -AIBOC

Foreign Banks Quitting India -AIBOC

Learn from the Experience of Foreign Banks quitting India:- It is also very important to see the trend of Foreign Banks’ operations in India. India has ceased to be a priority for multinational foreign banks since the financial crisis, as high capital and regulatory requirements in India have forced them to retreat into their domestic markets to save on costs and protect profitability. Now, let us have a look at some statistics. In the last five years, Deutsche Bank has sold its credit card business, Barclays has shut its retail banking business; Swiss lender UBS has given up its banking licence and so did US-based multinationals Morgan Stanley and Goldman Sachs; Bank of AmericaMerrill
Lynch sold its wealth management business to Julius Baer and Dutch banking group ING sold its Indian operations to Kotak Mahindra Bank. The exodus continued in 2015 with British bank RBS, which shut 23 of its 31 branches in India. Again, Standard Chartered reduced by a quarter its staff in corporate and investment banking. HSBC, too, announced that it will shut down its private banking business. These foreign banks have been closing down their business in India owing to high capital and regulatory requirements in India; but the domestic banks do not have any option. At one end, we have to continuously endure the onslaught of the RBI and Govt and on the other hand, we are duty bound to serve the masses of the nation. Hence there is an urgent need to change the Asset Classification and provisioning norms as well as Capital Adequacy norms.

Source:AIBOC
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Wednesday, 20 April 2016

18:10

State Bank Of India may close some foreign branches after review

State Bank Of India  may close some foreign branches after review

The nation's largest lender State Bank of India today said it will undertake a detailed review of its international operations and may close some non-lucrative branches.
"We do a yearly review of our international operations, but this time we are doing a medium-to-long-term strategic review of our foreign operations," SBIManaging Director for Corporate Banking B Sriram told reporters here.
"We will come out with medium-term targets which shall include business, profit, contribution to the book in terms of risks as per regulations and compliances and branch strategy," he added.
Sriram said the review will be completed over the next two months and a report will be presented to the board.
As part of the review, the bank is looking at closing certain non-lucrative branches 
which have not performed as per expectations.
In Britain, SBI has been asked by the local regulator to convert into a subsidiary rather than continue as a branch by March 2017, he said, adding the wholesale banking will continue as a branch.
Going by revenues, he said Britain, US, Hong Kong, West Asia and Japan see good business.
On the margins front, he said Nepal, Maldives and Bangladesh are very lucrative geographies, and added that generally the spreads are in sync with the country's sovereign ratings.
At the end of December 2015, SBI had a foreign network of 190 offices spanning 36 countries.

 Source:BankingUpdates
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Saturday, 11 July 2015

23:47

Bank employees to go on strike on Sept 2 against proposed amendments to the labour labours


Bank employees to go on strike on Sept 2 against proposed amendments to the labour labours

Around five lakh employees of public sector banks are planning to go on a strike on September 2. The strike is to protest against the proposed amendments to the labour laws to the detriment of the workers.

Bank employees have also decided to hold demonstrations demanding that Kingfisher Airlines' owner Vijay Mallya be declared as a wilful defaulter.

More than five lakh bank employees and officers of public sector banks, private banks, foreign banks, Regional rural banks and co-op. bank will join the strike, said C H Venkatachalam, general secretary, All India Bank Employees' Association (AIBEA)

AIBEA will also launch national-level agitation against banking sector reforms from July 19. The central committee of AIBEA has also decided to launch a national-level agitation by bank employees against the banking reforms measures being pursued by the NDA/BJP Government.

AIBEA members would meet the customers and general public and obtain one crore signatures in the mass petition to Prime Minister Narendra Modi demanding strengthening of public sector banks and stopping bank privatisation, granting of banking license of corporate companies, and licence to private people for starting small banks and payment banks with a view to dilute public sector banks. AIBEA will meet the Prime Minister and hand over these mass petitions demanding remedial action to ensure a vibrant banking sector.

AIBEa claimed that bad loans in the banks are increasing month after month and touched more than Rs 3 lakh crores today. "This is in addition to more than Rs 3 lakh crore of bad loans re-structured and shown as good loan. Further, huge bad loans are being sold to private Asset Reconstruction Companies at cheaper prices," said Venkatachalam, adding that AIBEA will be publishing the latest list of big loan defaulters during the monsoon session of the Parliament.

AIBEA is demanding the government and RBI to publish the list periodically and take stringent action on the defaulters. AIBEA is demanding that wilful default of bank loan be deemed as a criminal offence and criminal action be taken against such defaulter.
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