PRIVATE, FOREIGN BANKS SHOW LOW GROWTH

Article Abstract:

Private banks and foreign banks have registered a lower growth in deposits and advances during 1997-98. Private banks posted a 33.99 percent deposit growth in 1997-98 (45.64 percent growth in 1996-97). While foreign banks posted a 22.82 percent deposit growth (29.31 percent) public sector banks, on the other hand, posted an improved deposit growth of 19.46 percent (15.21 percent). In the case of advances, private banks posted a drop in growth to 22.82 percent (29.31 percent). While foreign banks posted a meager growth of 10.53 percent (18.75). Public banks showed a rise in growth of advances to 19.46 percent (7.13 percent). The slowing down in case of private and foreign banks has been attributed to saturation with regards to their accessible deposit and advance base, which is largely confined to the urban areas. Foreign banks have to face limitations with regard to opening new branches. Public sector banks meanwhile continued to get incremental deposits due to their wider reach. (tsm)

Sales & consumption

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NB JHAVERI TO TAKE OVER AS TIMESBANK MD

Article Abstract:

TimesBank, a new private sector bank operating in India, announced the appointment of Mr NB Jhaveri as its managing director effective November 1, 1998. Mr Jhaveri was earlier the regional head of retail banking with ANZ Australia. (uh)

Executive changes & profiles, TimesBank

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