India
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The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.
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Global money is flooding into India to profit from high-performing stocks, a booming economy, and the ease of investing via Gift City, a growing financial hub in Gujarat. Local wealth is flowing the other way, notably to Dubai. It’s a gold mine for private banks, and the process has only just begun.
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AsiamoneyThe German lender’s decision to put its chips on southeast Asia is paying off handsomely. Under the leadership of Asia CEO Alexander von zur Mühlen, Deutsche Bank has doubled its capital in Vietnam and Indonesia, with more to come, moved a host of global roles to the region, and has seen Asean eclipse its India and China business in terms of growth and absolute numbers.
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AsiamoneyCiti’s head of Asia treasury and trade solutions has retired after 40 years at the US bank. He tells Euromoney what he would do if he were a 20-something graduate today, and why it helps to be both a specialist and a jack-of-all-trades in the industry now.
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The 34th annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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While no charges have been laid against the Adani Group, a new Sebi rulebook addresses a key concern that came from the January stock-market controversy.
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KVS Manian has been overlooked in favour of ex-Barclays man Ashok Vaswani. What does it mean for one of India’s finest banks?
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Two new platforms show how India is building on top of its digital foundations.
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AsiamoneyDespite its roots in the region, HSBC’s Asian woes have sometimes seemed endemic. It has been overly dependent on Hong Kong and too often caught in Sino-US crosshairs. But under regional co-CEOs Surendra Rosha and David Liao, the lender has regained its confidence, is more regionally diverse than ever, and is busy posting record profits.
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A handwritten note brings down the curtain on a 38-year journey for bank founder.
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AsiamoneyOutbound Chinese M&A deal-flow has slowed to a crawl even as inbound activity remains steady. So focus in the region is moving elsewhere: to rising India, steady-and-lucrative Australia and even Japan, where once-bloated conglomerates are streamlining portfolios under intense pressure from activist shareholders.
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The Japanese bank is now well placed to take advantage of growing confidence in the country.
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As relative newcomers to India’s financial markets, small finance banks have made considerable progress in attracting customers with little or no credit history. Ittira Davis, managing director and chief executive of Ujjivan Small Finance Bank, tells Asiamoney about initiatives to reach the country’s vast underbanked population.
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Airtel Payments Bank
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Corporate governance challenges and a lack of domestic demand have constrained ESG issuance in India so far. The blowout dual-tranche domestic rupee sovereign green bond in January could be set to change that.
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A two-week period saw Adani Group attacked by a short seller, abandon a $2.5 billion share offer and lose $100 billion in market value. What next? And what does it mean for Modi’s India?
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The 33rd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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India had a tough time during the pandemic. A sharp decline in consumer spending hit many businesses, which in turn squeezed the banks and led to a 7.3% contraction in the economy in the financial year from April 2020 to March 2021.
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BNP Paribas’s relationship with India stretches back to 1860: since then, the lender has grown steadily, connecting with Indian businesses both inside and outside the country.
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HDFC Bank is India’s largest private-sector lender by assets. It has the scale, processes, expertise and vision to meet the needs of its 70 million-plus customers. Those strengths came in handy when the pandemic roiled markets.
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During Asiamoney’s awards period, India’s investment banking sector saw the best and the worst of times.
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Digitalization took centre stage during the Covid-19 pandemic as customers turned to virtual banking, exposing technological gaps among some of India’s banks.
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IndusInd Bank, India’s fifth-largest private-sector lender by assets, has consistently embraced environmental, social and governance (ESG) policies, ensuring they are embedded in every aspect of its business.
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HDFC Bank is India’s largest private-sector lender by assets. It has the scale, processes, expertise and vision to meet the needs of its 70 million-plus customers. Those strengths came in handy when the pandemic roiled markets.
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Initiatives related to water, waste management, renewable energy, recycling and disaster relief are among the focus areas of DCB Bank’s corporate social responsibility policy. In the past year, its CSR initiatives went from strength to strength, making it the winner of the India CSR award for 2022.
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HDFC Bank is India’s largest private-sector lender by assets. It has the scale, processes, expertise and vision to meet the needs of its 70 million-plus customers. Those strengths came in handy when the pandemic roiled markets.
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Citi, led by India chief executive Ashu Khullar, is one of the biggest foreign banks in India in terms of its balance sheet, deposits and profits. These are important measures, but the US bank also boasts a high-quality book and client portfolio, which proved a great advantage during the pandemic.
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The firm’s wealth management arm positioned itself early for a possible spurt in unicorns in India and the opportunities that may bring. It is now reaping the rewards.
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India is chipping away at the many obstacles on its way to achieving carbon neutrality by 2070. The path is uphill, but will its efforts pay off?
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India is embracing crypto-currencies and has even floated the idea of a digital rupee. These are natural steps for a country whose digital infrastructure is rapidly evolving, but with the future of the policy environment still unclear, details matter.
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The 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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The new entrants are slowly gaining ground and finding ways to bring change to the financial industry. But their path to growth is handicapped by regulatory roadblocks.
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India’s plan to set up a bad bank is set to be a game-changer for state lenders pressured by rising non-performing loans. But can the country’s authorities pull it off?
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Corporate social responsibility got a big lift in India after the government made it mandatory in 2014 for large firms to spend at least 2% of their profits on such projects every year.
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HDFC Bank’s transformation of its micro, small and medium-sized enterprise (MSME) business over the past few years makes it a worthy winner of this award.
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Axis Bank’s big investment in its digital platform, and the way that has paid off, makes it Asiamoney’s best digital bank in India for the second year in a row.
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DBS Bank’s long-term commitment to India – one of its six core markets, including its home base in Singapore – has not wavered since it first set up shop in the country in 1994. On the contrary, it has only strengthened in recent years, with the firm converting its India operations into a wholly owned subsidiary in March 2019.
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India’s biggest banks all deserve plaudits for steering their firms in the right direction in 2020, despite facing an unprecedented global health crisis.
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India’s biggest banks all deserve plaudits for steering their firms in the right direction in 2020, despite facing an unprecedented global health crisis.
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The 31st annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, hedge fund & private equity firms, insurance companies and wealth management houses in Asia, Europe and North America.
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When Soumya Rajan left Standard Chartered to form Waterfield Advisors in 2011, her aim was to create India’s best elite-level wealth management firm. Nearly ten years and $4 billion in AUM later, she may well have done just that.
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Edelweiss Private Wealth Management
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Standard Chartered Bank
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The spectacular collapse of a fast-growing private lender in early March has dealt yet another blow to India’s already shaky finance industry, led to the arrest of its founder and thrown a spotlight on the bank’s aggressive lending practices.
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The financial industry has been a mess, hit by defaults, rising bad loans, corporate governance scandals, frauds and, most recently, the government rescue of Yes Bank - the worst may be over, but things aren’t tidy yet.
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Ujjivan Small Finance Bank, winner of Asiamoney’s award for the best firm for microfinance in India, was set up in 2005 as a micro-lending institution, so its credentials in the microfinance segment are unrivalled.
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As a state-owned bank, Punjab National Bank has a big mandate concerning corporate social responsibility. But it is a mission it has embraced wholeheartedly, making it Asiamoney’s choice for best bank for CSR for the second year in a row.
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Nearly every bank in India flags its credentials in two important areas: the digital franchise and small and medium-sized enterprise (SME) clients. Under chief executive Sandeep Bakhshi, ICICI Bank has done a stellar job at bringing those together, tailoring its numerous digital offerings to its vast SME client base – making it Asiamoney’s best bank for SMEs.
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Axis Bank has made digital banking an integral part of its operations for some time now, but last year, its leadership and strength really stood out.
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Winning corporate and investment banking mandates in India is no easy feat: the privately owned banks are not only competing against each other, but also against the state-owned banks and a slew of international banks that have long-standing relationships with clients.
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Citi has beaten other foreign banks in the Indian market for years now, and this year was no exception.