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Top Indian fund manager bets on banks as bad loan build-up slows

Reuters  |  MUMBAI 

By Abhirup Roy and Euan RochaMUMBAI (Reuters) - India's largest mutual fund manager ICICI Prudential is betting on banks to drive a much-awaited recovery in corporate earnings in 2018, as additions to their record pile of sour loans slow after surging in the past two years.Banks will also benefit from an expected revival in economic activity likely to drive capital expenditure by companies and hasten lending growth that has hit multi-decade lows, Chief Investment Officer Sankaran Naren said at the Reuters Global Investment 2018 Outlook Summit."Everything you're looking at is working ...

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First Published: Mon, November 13 2017. 18:21 IST