SBI Wealth targeting 50 centres by 2020

: SBI Wealth is aiming at taking its Wealth Business footprint to 50 centres nationwide by 2020 from the present 29 centers,a top SBI official said Wednesday.

The existing centres have 100 Wealth Hubs, he said.

"Presently, SBI Wealth serves 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, who was here to launch the Bank's 100th Wealth Hub, the second in the city and 10th in Tamil Nadu, said 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 was also in the process of setting up a state-of-the-art Global e-Wealth Centre at Kochi, Gupta said.