Wealth managers chase India’s burgeoning rich
Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Wealth managers chase India’s burgeoning rich

Domestic banks and well-established foreign rivals are fighting hard for a share of a high-net-worth asset base expected to grow at double-digit rates. With foreign banks’ involvement in the global crisis fresh in potential clients’ minds, domestic banks might just have the edge. Elliot Wilson reports.

FEW NATIONS INSPIRE as much devotion mixed with confusion among private banks as India. It isn’t growing as fast as China but it is creating vast new wealth at an astounding rate – money increasingly concentrated in the hands of a few hundred billionaires, and a thousand times as many dollar millionaires.

So it is little wonder that Euromoney’s private banking and wealth management survey 2011 is such a tight-run thing in India, with local financial groups fighting fiercely with global houses for clients, territory and respectability.

Gift this article