BEST PRIVATE BANK – NRI SERVICES
Globally, the non-resident Indian (NRI) market accounts for US$1 trillion according to market estimates – a fact not lost on private banks in Asia, which continue to channel resources towards this investment-savvy segment.
BNP Paribas Wealth Management’s NRI strategy stands out among its peers. By bringing its NRI and India onshore businesses under one umbrella and a single market head, the private bank has put in place a structure that is conducive to a seamless flow of resources and market intel between the two previously distinct offerings. Accordingly, NRI clients interface with advisors that are well-versed in India-centric products and opportunities.
Examples of the bank’s ability to cater to the unique palettes of ultra high net worth NRIs include its bespoke capital protected structured notes with leverage and its diversified bond portfolios with an Indian flavour. NRI bankers can source India-specific corporate deals internally and, more generally, collaborate with India onshore bankers to share knowledge and generate ideas.
“With over 150 years’ history in India, experience covering NRIs across the world, long standing client relationships, integrated client approach, demonstrable business growth and backing of the BNP Paribas group, the NRI business within BNP Paribas WM Asia has evolved to a leading franchise in the industry,” says Samir Bimal, BNP Paribas Wealth Management’s head of Indian markets.
BNP Paribas Wealth Management’s unique NRI strategy has translated to successful business performance: the private bank’s NRI assets have grown at a healthy CAGR of 31% and maintained healthy revenues.
BNP Paribas Wealth Management is Asian Private Banker’s Best Private Bank – NRI Services for 2016.