ICICI Securities today hosted an Investor Conference on the Banking, Financial Services & Insurance (BFSI) industry in Mumbai. The Conference was aimed at providing a focused opportunity for BFSI companies to interact with representatives of renowned funds and global/domestic institutional investors with interests in the BFSI sector.
Mr Anup Bagchi, MD & CEO, ICICI Securities Ltd said, "Slowing economic growth and sluggish corporate investment scenario throw significant challenges for the Indian Banking sector. However, the Indian Banking system is well evolved, resilient and well positioned to overcome these challenges. Infact, all parameters of the Indian Banking systems compare favourably with the international banking system viz the capital adequacy, size of Indian banks against GDP and pro-activeness of regulators. Over 25 leading banks and NBFCs addressed investor concerns about the asset quality, regulatory issues, and overall growth for the BFSI sector through one-on-one meetings."
Mr Anand Sinha, Deputy Governor, Reserve Bank of India was the key note speaker at the conference. Speaking on the impact of Basel III on bank operations, profitability and capital management, Mr Sinha said, "It is important to have confidence in the economy. Basel III norms may come at a short term cost but the long term benefits of building a stronger and safer banking system outweighs it. Moreover enough time is being given for the transition to Basel III norms."
The ICICI Securities BFSI Conference saw several leading banks, private and public sector as well as NBFCs, find a common platform and share their views on how the financial services sector is equipped to handle these challenges.