Local banks are using technology to innovate, differentiate, and to ensure the numerator of the cost-to-income ratio is contained, and the denominator expands.

“What does technology do for the consumer and end-user? Am I getting a better, more convenient and cheaper banking product?” asks Harsh Modi, co-head of Asia (ex-Japan) Financial Research at JP Morgan. “Those kinds of value-additions and lower pricing lead any bank to end up gaining market share.” Modi declines to discuss specific banks.

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