Private Banking: An Introduction - Hardcover

9788131407486: Private Banking: An Introduction

Hardcover

ISBN 10: 8131407489 ISBN 13: 9788131407486

Publisher: ICFAI Books, 2009

According to the World Health Report published by Capgemini and Merrill Lynch, the number of High Networth Individuals (HNIs) (with assets greater than $1 million) has grown by over 20% globally in the past five years and by more than 90% in the past decade. The report also highlights that the emerging market economies like India, China and the Middle East have outperformed the developed economies in terms of increase in the number of HNIs. The number of dollar millionaires in India has grown to 83500 in 2005. These emerging "newly rich" individuals lack the time to manage their serious money and will increasingly delegate it to professional wealth managers. This has stimulated the private banking business in India, attracting the attention of global majors like UBS and Credit Suisse. Private banking is the means of managing private clients'' money by providing various services like efficient wealth management, saving, inheritance and tax planning. These banks promise to maximise returns and minimise risk along with the tax burden of the clients through careful allocation of their money. Against this backdrop, this book seeks to focus on the emerging opportunities for private banking in India. It highlights the factors driving the growth of private banking in the country and the region, debates the sustainability of domestic and foreign private banks ad analyses the performance of private banks.

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About the Authors

B Sujatha is a Cost Accountant and MBA with specialisation in Finance. She is presently working as Consulting Editor at Icfai Business School Research Center, Chennai. She has over fifteen years of industry experience in the areas of finance, accounting, audit and administration. She worked with the Oil & Natural Gas Corporation for ten years. Before joining Icfai, she was in charge of Finance and Administration for a group of companies in Botswana for four years. Her areas of interest include management, Business strategy and corporate finance.

Nancy John holds an MBA from Osmania University, Hyderabad, Currently, she is working as Faculty Associate at Icfai Business School Research Center, Chennai. Herarticles were published in various magazines published by the Icfai University Press. Her areas of interest include finance and human resources.

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