Indian banks boosting overseas staff

Number of employees working abroad rose 6.1% in fiscal year 2011-2012.

A survey by the Reserve Bank of India involved 163 overseas branches, 158 overseas subsidiaries on Indian banks and 309 branches of foreign banks operating in India. The number of employees in overseas subsidiaries of Indian banks grew 11% in 2011-12

The survey also revealed that the employee count in foreign banks operating in India dropped 2.9% during the financial year.

The report said overseas Indian banks employed 66% of staff from local sources, 31% from India and remaining 2.9% from other countries. The share of local employees in total employees was 99.6% for foreign banks in India during the year.

RBI said the profitability ratio of branches of Indian banks operating abroad fell to 0.7 % from 1.1% in 2011-12. The profitability ratio of foreign banks operating in India increased to 2.4% from 2.3% in 2011-12.

Bahrain, Belgium, Hong Kong, Japan, Singapore, Sri Lanka, UAE, UK and USA were the major countries that accounted for nearly 91% of the total trade in banking services of the Indian banks' branches.