Despite paltry box office pickings of just Rs 1300 Crores for the Corporate Finance teams, private sector banks are set to make a profitable killing for the quarter’s results led by Investment based products, bancassurance and commercial banking charges on Trade and retail customers. The kicker is almost 40-50% for Private Banks like Kotak and HDFC Bank while even PNB and UBI will bolster their effective interest income growth with 20% growth in fee income.
Banks have recently been allowed multiple ( up to 4) insurance partners for their cross-sell desks in wealth management and even longstanding wannabes like Indian Bank will pursue the course to bolster their banking incomes. Axis and HDFC Bank expect almost a fifth of their income from fee based lines
Also deals may be looking up in the latter half of the year if retail regains color and FD”i approvals come through
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