Money & Banking

Bank Web sites attract higher traffic

| | Updated on: Apr 21, 2011
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Of the seven crore ‘active' Internet users in India, 1.85 crore (26.4 per cent) visited an online property of a bank in March, according to online audience measurement platform ViziSense.

The growth of users visiting bank sites has been consistent.

In March 2010, there were 1.3 crore visitors on Indian banking sites. In October 2010, of the six crore active users, 1.5 crore (25 per cent) visited a bank's site, according to the tracker.

In March, the top three banks on the Web (by unique visitors to their online properties) were ICICI Bank (59.5 lakh unique visitors), HDFC Bank (57.1 lakh) and State Bank of India (46.5 lakh).

“The trend in growth of Internet users on banking sites reflects the efforts of banks to get people online, which reduces transaction costs and increases coverage. This will have a great impact on online banking and online payments going forward,” observed Mr Amit Bhartiya, Business Head, ViziSense, India.

Forty-four per cent of visitors to ICICI Bank's Web sites in March 2011 had an income of over Rs 5 lakh per annum, and the figure for HDFC Bank is similar, at 42 per cent.

In contrast, 24 per cent of visitors to SBI's properties earned over Rs 5 lakhs per annum, says ViziSense.

Non-metro users

The number of people accessing banking Web sites from non-metros has overtaken those from the top eight metros (Mumbai, Delhi, Chennai, Kolkata, Hyderabad, Bengaluru, Pune and Ahmedabad) in March, at 52:48. Since May, the ratio has veered around an equal split between the number of users from metros and non-metros.

Of Web users visiting SBI's online properties in March, 60 per cent were accessing the sites from non-metros. For both ICICI Bank and HDFC Bank, the split was around 53:47, in favour of virtual visitors from the top eight metros.

Published on April 21, 2011

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