Business Daily from THE HINDU group of publications
Wednesday, Oct 17, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 17, 2007 ePaper |
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Markets
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Financial Services Money & Banking - Private Banks
Our Bureau New Delhi, Oct. 16 ICICI Bank expects its private banking business to maintain the current growth tempo this fiscal too on the back of growing interest among entrepreneurs to segregate private wealth and business wealth. In fiscal 2006, the private banking business saw 65-70 per cent growth in terms of both assets under management (AUM) and thenumber of clientele. “ The need to segregate private wealth and business wealth will be the biggest growth driver for us,” Mr Anup Bagchi, Head of Private Banking Division and Senior General Manager, ICICI Bank, told reporters here. He, however, declined to put a number to the AUM, but added that the number of clients stood at 1.5 lakh. The bank’s private banking business was launched sometime in 2004. The current bull run in stock markets has also helped the business to record strong growth over the last few years. More Stories on : Financial Services | Private Banks | ICICI Bank Ltd
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