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Indian banking sector is at 6th position among emerging economies, says assocham

Indian banking sector though stands unhurt by ongoing global financial crisis, has got a long way to go in competing with its counterparts in other emerging economies, ranks at sixth position in terms of efficiency, productivity and soundness among 11 banking institutions of such economies, says an ASSOCHAM Eco Pulse (AEP) Study.

The AEP study analyzed the standing of Indian banking sector vis-ŕ-vis other emerging economies based on eight financial parameters relating to cost, income and profitability taken for the financial year 2006-07

The AEP “Banking Sector in Emerging Economies” reports that Malaysia has topped among the emerging economies as measured on the basis of financial health indicators. It was followed by Korea and China at second and third place respectively. India fell at sixth position following Russia (fourth) and Chile (fifth), whilst Brazil (seventh), Mexico (eighth), Thailand (ninth), Philippines and Indonesia (joint tenth) were down below India in the rankings as per the analysis.

While India ranks favorably in terms of income ratios at fourth position, it is the cost ratios and profitability ratios which have led India falling to overall sixth rank among the 11 emerging economies. India is ranked at sixth and seventh position in terms of cost ratios and profitability ratios respectively.

Within the BRIC countries, India ranked at third position, behind China (first) and Russia (second), but ahead of Brazil (fourth) in the overall standing. However, with respect to the income ratios, Indian banking sector was best performing among the BRIC countries, it ranked second in terms of cost ratios and third in terms of profitability ratios.

China ranked first in terms of cost ratios whereas it shared joint second position with Russia in income ratios. In terms of profitability ratios, Russia shared the first position with Brazil.

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