The Indian banking sector is poised to become the world's third-largest in terms of assets over the next 14 years, according to a report by The Boston Consultancy Group (BCG).
“The domestic banking industry is set to see exponential growth in the coming years, with its assets poised to touch $28,500 billion by 2025, compared with the current $1,350 billion (2010),” says the report by Indian Banks’ Association (IBA), Ficci and BCG titled ‘Being five-star in productivity — Roadmap for excellence in Indian banking’, prepared for the IBA.
The report was released on the eve of the three-day IBA-Ficci-BCG bank summit. The summit would be inaugurated by Reserve Bank Governor D Subbarao and would be attended by the heads of banks and the four central bank deputy governors.
The report adds China would overtake the US as the world’s largest banking industry by 2015. It is expected the asset size of Chinese banks would be nearly $30,000 billion, while that of the US would be around $28,000 billion.
