IndusInd Bank launches five new PIONEER branches strengthening its wealth management biz
At the heart of the PIONEER proposition is the Client Ownership Model, where each client is served by a dedicated duo - a Relationship Manager and a Service Relationship Manager, trained to manage every aspect of the client's banking journey. This relationship-led approach is backed by over 900 certified RMs, 150+ SRMs (Service RMs), and 100+ domain specialists, ensuring both personalized attention and domain expertise. Clients also benefit from INDIE, the Bank's digital platform that enables one-touch access to their relationship team, real-time event-based updates, and seamless service requests such as doorstep banking, locker bookings, or card upgrades.
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Business Standard
12 hours ago
- Business Standard
Q1 earnings, US Fed decision to drive market sentiments this week: Analysts
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said. Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said. Markets would also keep a track on developments related to the August 1 trade deal deadline and geopolitical tensions between Thailand and Cambodia. August 1 marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India. "The start of the new month will bring attention to key economic data, including Industrial Production (IIP) and HSBC Manufacturing PMI on August 1. Additionally, monthly auto sales figures will be closely monitored. The scheduled expiry of the July derivatives contracts may add further volatility to the markets," Ajit Mishra SVP, Research, Religare Broking Ltd, said. As the earnings season progresses, results from heavyweights such as IndusInd Bank, Asian Paints, NTPC, Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Sun Pharma, ITC, and others will be tracked for insights on sectoral resilience and corporate performance, he said. Globally, traders will focus on the US Fed's interest rate decision and GDP growth numbers, along with updates on trade negotiations ahead of Trump's August 1 tariff deadline, which could impact FII flows, Mishra added. Movement of rupee against the dollar and crude oil prices will also be monitored by investors. "Looking ahead, all eyes are now on the upcoming Q1 earnings reports from several key companies. Major names like Bharat Electronics Ltd, IndusInd Bank, Asian Paints, Tata Steel, Mahindra & Mahindra, Coal India, Hindustan Unilever, Maruti Suzuki and ITC are set to announce their results this week. Their performance will be crucial in determining whether markets can find support or continue to trend lower in the near term," Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said. Investors will closely monitor foreign fund flows, and any meaningful development on the IndiaUS trade front for further direction, he added. Last week, the BSE benchmark gauge declined 294.64 points or 0.36 per cent, and the Nifty dipped 131.4 points or 0.52 per cent. "The Indian stock market continued its downward trajectory for the fourth consecutive week, marking the longest losing streak for the Nifty since October 2024. Investor sentiment remained weak, primarily due to the absence of strong domestic triggers, tepid corporate earnings for the June quarter, and persistent selling by foreign institutional investors (FIIs)," Gour said. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said, we expect markets to remain in consolidation mode amid continued uncertainty around India-US trade deal, a mixed Q1 FY26 earnings season so far and intensifying FII outflows.
Indian Express
a day ago
- Indian Express
‘Insurance industry on track to more than double, set to hit Rs 25 lakh crore by 2030'
India's insurance sector is projected to witness robust expansion, with gross underwritten premiums (GWP) expected to more than double — rising by 123 per cent to Rs 25 lakh crore by 2030 from Rs 11.2 lakh crore in 2024, according to a report by the Insurance Brokers Association of India (IBAI) and McKinsey & Company. This surge is likely to lift insurance penetration from the current 3.7 per cent to 5 per cent, bringing India closer to the global average of 6.8 per cent recorded in 2023. Between FY 2020 and FY 2024, the industry saw strong double-digit growth, with total premiums across life and non-life segments increasing from Rs 7.8 lakh crore to Rs 11.2 lakh crore, the report said. 'India's insurance sector is entering a new era of opportunity, with the potential to more than double by 2030,' said Narendra Bharindwal, President, IBAI. The report said the retail segment could attain GWP of around Rs 21 lakh crore by 2030, of which over 90 percent is driven by the life segment. 'Around 65 per cent of the retail opportunity is present at the extreme ends of the customer pyramid-the ultra-high-net-worth individuals (UHNI) and high-net-worth individuals (HNI) at one end, and the mass-market customers at the other end,' it said. The intent to buy insurance is missing, despite awareness, the report said. In the retail segment, among affluent and ultra-high-net-worth and high-net-worth customers (UHNI and HNIs are individuals with household personal financial assets over Rs 8.5 crore), 60 per cent customers believe that their ideal life insurance cover should be 10 times their salary, yet only 30 per cent have this cover. Similarly, in the institutional segment, 70 percent micro and small enterprises purchase insurance because of regulatory or client mandates. 'By 2030, UHNI and HNI customers could account for around 20 per cent of the total projected retail insurance value pool, while the mass-market segment is expected to account for nearly 45 per cent,' the report said. While nearly 70 per cent of affluent and UHNI / HNI retail customers purchase insurance on the recommendations of trusted advisors, 45 per cent of mass market customers rely on the recommendations of friends and family, it said. The claims experience is a key differentiator in the insurance journey. As many as 50 per cent of affluent and HNI+ customers considered switching their insurers or channel of purchase and nearly half of them switched due to dissatisfaction with the claims process. Similarly, over 55 per cent of SMEs have had their claims rejected, and over 75 per cent seek assistance with documentation and paperwork in the claims process, the report said. 'These segment-specific insights are derived from the IBAI Insurance Insights Survey, which reveals the behaviour and pain points of 2,500 retail customers,' the report said. GWP for the institutional segment, largely in non-life insurance, is expected to grow nearly three times to reach Rs 2.8 lakh crore by 2030. 'While the SME segment currently has a contribution of only close to 10 percent, it is expected to grow the fastest. Around half of the total SME opportunity lies in clusters across 17 Indian cities, in nearly 10 leading, capital-intensive industries such as textiles, automotives, pharmaceuticals, and industrial goods,' the IBAI-McKinsey report said. This segment lacks the intent to buy insurance, often because the enterprises do not entirely believe it is critical, and because lack of guidance and handholding, as well as persistent margin pressure cause them to deprioritize it, it said. The IBAI survey revealed that when SMEs do buy insurance, it is driven by the need to comply with regulatory and client mandates. 'They lack internal risk-management expertise, seeking advisory and guidance, products tailored to their needs, and support on documentation and claims processes. Equipping them to foresee their risks and empowering them through products customized at the sector level could draw them into the fold of insurance protection,' it said.
Economic Times
a day ago
- Economic Times
Kotak Bank Q1 results: PAT falls 7% YoY to Rs 3,282 crore. NII up 6%
Kotak Mahindra Bank on Saturday reported a 7% year-on-year decline in its standalone net profit for the June quarter at Rs 3,282 crore, compared to Rs 3,520 crore in the year ago period. The net interest income (NII) for Q1FY26 increased to Rs 7,259 crore, up 6% YoY from Rs 6,842 crore in Q1FY25. ADVERTISEMENT This decline was excluding gains on KGI divestment, the company filing said. On June 18, 2024, ZKGI has ceased to be a wholly-owned subsidiary and became an associate of the Bank. However, the net profit numbers came in after adjusting for the one-time gain from the sale of its general insurance business. Including the gain, the unadjusted net profit was significantly higher at Rs 6,250 crore in the year ago period. Advances Average advances for Q1FY26 grew at 14% YoY with Net Advances increasing 14% YoY to Rs 444,823 crore as at June 30, 2025 from Rs 389,957 crore as at June 30, unsecured retail advances including retail microcredit as a percentage of net advances stood at 9.7% as at June 30, 2025. Deposits Average total deposits grew to Rs 4,91,998 crore for Q1FY26, up 13% YoY from Rs 4,35,603 crore for Q1FY25. In this average current deposits grew to Rs 67,809 crore for Q1FY26, up 9% YoY from Rs 62,200 crore for Q1FY25. ADVERTISEMENT Average savings deposits grew to Rs 1,24,186 crore for Q1FY26, up 2% YoY from Rs 1,22,105 crore for Q1FY25 meanwhile average term deposits grew to Rs 3,00,003 crore for Q1FY26, up 19% YoY from Rs 2,51,298 crore for ratio as at June 30, 2025 stood at 40.9% while the TD sweep balance grew 23% YoY to Rs 59,098 crore. ADVERTISEMENT Cost of funds was 5.01% at to Deposit ratio as at June 30, 2025 stood at 86.7%. ADVERTISEMENT Other key takeaways -- Kotak Bank's Net Interest Margin (NIM) was 4.65% for Q1FY26 versus 5.02% in the year ago period.-- Operating profit for Q1FY26 increased to Rs 5,564 crore, up 6% YoY from Rs 5,254 crore in Q1FY25. ADVERTISEMENT -- As at June 30, 2025, GNPA was 1.48% & NNPA was 0.34% versus 1.39% & NNPA was 0.35% at June 30, 2024.-- As at June 30, 2025, Provision Coverage Ratio (PCR) stood at 77%.-- Standalone Return on Assets (ROA) for Q1FY26 (annualized) was 1.94% while Return on Equity (ROE) for Q1FY26 (annualized) was 10.94%.-- Capital Adequacy Ratio of the Bank, as per Basel III, as at June 30, 2025 was 23.0% and CET1 ratio of 21.8% (including unaudited profits). (You can now subscribe to our ETMarkets WhatsApp channel)
