The returns of foreign banks operating in Australia as subsidiaries fell only a little over the course of 2008, but then profits for this group of banks were on the low side to begin with.The combined return on assets for the nine foreign banks grouped by APRA under this heading fell to 0.5 per cent in 2008 from 0.6 per cent in 2007. Return on equity fell to 7.7 per cent from 9.6 per cent.This group includes the retail banking operations of Citi and HSBC, ING Direct, Rabobank and Investec.BankWest used to be counted in this group but was sold to Commonwealth Bank in late 2008.