Bottom Line: Is the onshore India dream over for global private banks?

Is the India dream over for private banks? Source: AI generated

UBS Global Wealth Management’s (UBS GWM) decision to sell its onshore India business to 360 One Wealth and Asset Management (360 One WAM) will have surprised few. The Swiss lender joins a growing list of private banks that have struggled to penetrate India’s onshore wealth market, which was worth about US$670 billion as of 2023, according to APB Insights data….

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