mangalore today

SBI launches Wealth Business Services

Mangalore Today News Network

Mangaluru, October 20, 2018: Rajnish Kumar, Chairman, SBI  launched bank’s Wealth Business Services by inaugurating ‘SBI Wealth Hub’ at Lalbaug, Mangaluru. State Bank of India, nation’s largest bank launched its Wealth Business Services by opening ‘Wealth Hub’ at Mangaluru today, October 20, 2018. The bank has rebranded its Wealth Business as ‘SBI Wealth’ offering best-in-class Personalised Banking and Investment Services to its elite HNI Clients through a dedicated team of Relationship Managers.



Shri Rajnish Kumar, Chairman, SBI inaugurated this service at the bank’s Lalbaug Branch in the city. SBI is the first PSU bank in the country to introduce comprehensive Wealth Business Services to its Clients.

SBI Wealth has presence in 20 major centres with a network of 90 Wealth Hubs in the country. SBI is further targeting to take its Wealth Business footprint to 50 centres by 2020. Presently, SBI Wealth is serving nearly 35,000 Clients and is looking to triple its Clients base to 125,000 with an AUM of Rs. 100,000 crore in the next two years.

Addressing a gathering of Clients at the SBI Wealth launch, Shri Rajnish Kumar, Chairman SBI said, “We are glad to launch SBI Wealth at Mangaluru. This new offering by the bank would give our elite Clients, a completely new approach for interacting with the Bank. 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”.

HNI Clients would be offered best products across categories from leading Fund Houses. They will also have the flexibility to invest, transact and view their portfolio, through digital channels such as Internet Banking, Mobile and Remote Relationship model. The bank has tied-up with several leading technology and product partners, to provide an extensive suite of privilege products and lifestyle benefits. These include top tier credit and debit cards, concessions/ waivers in charges, and much more.

The Bank also launched wealth Business services for NRIs. The Bank is also in the process of setting of a state-of-the art Global e-Wealth centre at Kochi.