Harder to digest are the declared profit figures of foreign banks operating in India. Stanchart (with a 51% jump in profits), 
HSBC (a 64% rise), Citibank (27.5%) swamped the profit growth list; and the reality was that a significant portion of the growth came from non-consumer finance segment. For example, while a third of HSBC India’s profit comes from treasury operations, the remaining came from corporate banking. And the reason for tub thumping is the same for almost all foreign banks – Indian M&As. Not that foreign banks should not be allowed to make profits (in fact, it’s creditable that they’re operating with such supreme world-class efficiency in India), but of crying shame is the attitude of Indian banks that has ensured that they’ve simply not marketed themselves well in an opportunity where they could have ended up with humungous profi ts and net worth growth. And at a time when the customers themselves were none other than Indians. Ignominious is how I describe it! I’m sure analysts won’t be that lenient...
HSBC (a 64% rise), Citibank (27.5%) swamped the profit growth list; and the reality was that a significant portion of the growth came from non-consumer finance segment. For example, while a third of HSBC India’s profit comes from treasury operations, the remaining came from corporate banking. And the reason for tub thumping is the same for almost all foreign banks – Indian M&As. Not that foreign banks should not be allowed to make profits (in fact, it’s creditable that they’re operating with such supreme world-class efficiency in India), but of crying shame is the attitude of Indian banks that has ensured that they’ve simply not marketed themselves well in an opportunity where they could have ended up with humungous profi ts and net worth growth. And at a time when the customers themselves were none other than Indians. Ignominious is how I describe it! I’m sure analysts won’t be that lenient...
