India's retail banking now bigger than Russia's but not close to China's

With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand

A boom in credit-fuelled consumption has made India's retail banking one of the biggest among emerging markets outside of China. Going by banks’ retail loans outstanding, worth $269 billion at the end of September 2017 quarter, India's retail banking is now bigger than Russia’s ($248 billion), Malaysia’s ($211.3 billion) and Mexico’s ($190 billion). However, Brazil ($439.4 billion) and Thailand ($310 billion) remain ahead of India, according to data from Bank for International Settlement (BIS).

China, however, leads the pack with total retail banking assets worth $5.8 trillion at the end of September 2017 quarter. The numbers for all countries are