India’s largest private sector insurer, ICICI Prudential Life Insurance, expects private banks and big capital goods companies to drive growth next year, as lenders get on top of their bad loans and oil prices come off their highs. Next year is also set to mark the beginning of a much-awaited earnings recovery in India, even as it gears up for general elections that are due by May, Manish Kumar, Chief Investment Officer at ICICI Pru Life told Reuters. “Our belief is that most of the challenges in the corporate sector banks are in the last stage,” Kumar said, adding he continued to be positive on private banks with exposure to retail clients.
