Key players in banking & financial services
ICICI Bank is India’s second largest bank after the public sector State Bank of India, with total assets of Rs 3,44,658 crore ($79 billion) as on March 31, 2007.india Updated: Jul 23, 2007 02:32 IST
ICICI Bank is India’s second largest bank after the public sector State Bank of India, with total assets of Rs 3,44,658 crore ($79 billion) as on March 31, 2007. The bank has a network of more than 950 branches and 3,300 ATMs in India and a presence in 17 countries. The bank offers several financial products, which include fixed deposits, insurance, mutual funds, and retail loans such as those for homes and cars.
HDFC Standard Life Insurance was the first among private sector companies to get a licence to start operations after the industry was opened up. In the last seven years, the company has hired more than 10,000 employees and around 85,000 financial planners or agents.
Aviva Life Insurance is a 74:26 joint venture between Dabur and Aviva of the UK. The company has 5,500 direct employees and around 30,000 financial planers.
Reliance Capital, controlled by Anil Ambani, offers complete financial solutions including insurance, mutual funds and securities broking. Its brand, Reliance Money, is emerging as one of the largest retail brokers in the country with a daily turnover of around Rs 600 crore. The company is building is footprint across the country.
Indiabulls has emerged as a strong player in the stock broking and investment services segment. It has 414 branches in 127 cities of India.
UTI Mutual Fund, Prudential ICICI and Franklin Templeton are among the leading mutual funds in the country that run asset management companies to invest in stocks and other securities.