Mumbai, Mar,12. If the forecast by a McKinsey & Company report is any indication, the share of domestic banks in the global banking pie could almost double from the current (or the end of financial 2009)1.5% (revenues worth $2850 bn) to 2.8% (revenues worth around $4000 bn) by the end of fiscal 2015. The underlying assets of the domestic lenders could nudge $3 trillion and deposits could go as far as around $2.3 trillion. In the backdrop of this stupendous growth, the banking and financial sector will continue to be the mainstay of the Indian economy.
The report also predicts that the next decade could see at least 5-6 domestic banks figure in the top global 100 list. Consolidation among the banks could also pick up.
The revenues of the domestic lenders more than quadrupled over the past decade from $11.8 bn in 2001 to $46.9 bn in 2010. Also, their net profit rose almost nine-fold from a meager $1.41 bn in 2001 to 12.06 bn in 2010.
Moreover, market capitalization of the top 5 lenders in the country including SBI, ICICI Bank and PNB is expected to rise higher from 55% in 2005 to 66% by the end of the current fisca
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