Edelweiss arm sees rise in client base in Telangana State
Edelweiss Wealth Management on Thursday announced an increase of 14 per cent in its client base in personal wealth business in Q4FY19 as compared to Q4FY18 in Telangana.
Hyderabad: Edelweiss Wealth Management on Thursday announced an increase of 14 per cent in its client base in personal wealth business in Q4FY19 as compared to Q4FY18 in Telangana.
The company said the growth was primarily due to the customised and unbiased advisory provided to clients through proprietary technology platforms that would enable investment and trading in financial markets.
The business had witnessed a revenue growth of 63.5 per cent in FY18 with CAGR of 35 per cent in the last two years.
"One of the key reasons for this increase is the higher acceptance of structured products by clients in Telangana.
The people of Hyderabad are naturally inclined to technology and have traditionally been early adopters of digital innovation.
This is reflected in the increase in the number of users on our mobile trading application Edelweiss Mobile Trader (EMT) by 15 per cent as of Q4FY19 in comparison to Q4FY18," the company said in a statement.
Rahul Jain, Head - Personal Wealth Advisory, Edelweiss, said the company's intense focus on customers helped it to achieve the growth.