jump from foreign bank to local bank
 

I have got an opportunity to move to a local bank to do similar type of job for 20% more pay. no short term growth opportunities at my current job. no promotion or pay hike on the cards other than the annual measly 5% increment (if I get ranked above average in my appraisal)
anything else I should consider?

you got to tell people what role is it right? the BO/MO/FO compensation structure is different

New job has growth?

Its a like for like role in BO. 20% is the overall diff after weighing salary, bonus and benefits. I have been conservative in the approximations. The bonuses at the local bank are better than what I had received till date, so some more upside in pay is expected.

As much as my current job. The only difference is that there are lot more opportunities for lateral movement at the foreign bank. However I have been unsuccessful till date.

You should go. Local banks have higher and more stable bonus. Seems like a good move for you.