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The Indian banking sector is possibly
the only one in the Asian region exhibiting clear signs of a positive cyclical
momentum. As many as 31 banks forming
part of Asian Banker recorded 66 per cent growth in their net profits for
fiscal 2003. All the 27 public sector banks had capital adequacy ratio in
excess of stipulated minimum level of nine per cent.
Addressing a gathering at the Banking
Conclave organised by the Indian Chamber of Commerce, chairman and managing
director, Bank of Baroda (BoB), P S Shenoy, said in view of the upcoming New
Capital Accord, banks, especially those with international presence were
comfortably placed in terms of overall capital requirement. He also said that bank has sound financial
and they are continuously improving. These ratios indicate good control over
cost of funds through better asset-liability management. The bank has better control over
operating expenses and is continuously improving its operational efficiency.
Its asset quality has improved over the years. banks capital base provides it
with large cushion for asset expansion.
He also said that banks would increasingly have to become universal in
nature. At present banks are trying to fill the void created by developmental
financial institutions in financing projects.
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