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21 Mar 2019, Edition - 1346, Thursday

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SBI Wealth to target 50 centres by 2020

Covai Post Network

Coimbatore : SBI Wealth is targeting to take its Wealth Business footprint to 50 Centres across the country by 2020, from the present 29 Centers with a network of 100 Wealth Hubs, a top SBI official said Wednesday.

Presently, SBI Wealth is serving nearly 43,000 Clients with Rs 24,000 crore and is looking significantly to increase its client base to 1.25 lakh with an AUM (Asset Under Management) of Rs. one lakh crore in the next two years, SBI Managing Director, (Retail and Digital Banking) P K Gupta told reporters here.
Gupta here to launch the Bank’s 100th Wealth Hub at Velandipalayam branch, the second in the city and 10th in Tamil Nadu said that the bank recently rebranded its Wealth Business as ‘SBI Wealth’ offering best-in-class
Personalised Banking and Investment Services to its elite HNI (High Net worth Individuals) Clients through a dedicated team of Relationship Managers.

Introducing Wealth Business has been one of the top strategic business priorities of the bank as we have numerous HNI Clients whose banking needs require highly specialized services, he said.

The Bank is also in the process of setting up a state-of-the-art Global e-Wealth Centre at Kochi, Gupta said.

When asked about the merger of the banks, Gupta said that the consoldiation of banks was good for customers and employees. However, he was evasive to another question on job loss after the merger.

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