Mumbai, Sep 22 (UNI) Companies from the financial services segment expect to grow by 35 per cent in 2009-10, revealed a study conducted by Dun&Bradstreet, the world's leading provider of global business information, knowledge and insight.
D &B today released the inaugural edition of its publication, ''India's Leading BFSI Companies 2008'', which profiles 223 companies with an aggregate total income of Rs 5634 bn in Fiscal year 2007.
They included 71 banks, 105 financial services companies, 17 mutual fund houses and 30 insurance companies.
Speaking at the launch, Dun and bradstreet India President and CEO Manoj Vaish said the book was an attempt to highlight the key achievements and challenges faced by the banking and financial services sector. ''The penetration of the financial sector in India still remains low, with the bank credit to GDP ratio at less than 50 per cent, overall insurance premium to GDP ratio at less than 5 per cent and general insurance premium to GDP ratio at under one per cent''.
The study revealed that mutual fund companies expect an average annual growth of 28 per cent while insurance companies expect around 18 per cent growth over the next three years.
D&B's 'India's Leading BFSI Companies 2008' was launched by Mr.
Jagdish Capoor, Chairman, HDFC Bank Limited.
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