Public sector banks race into wealth management as deposits lose ground to market linked products

Published on 3 May 2026

SBI targets wealth assets up to Rs 15 lakh crore by 2030

Public sector banks are building wealth management businesses as Indian households shift savings from bank deposits to market linked instruments and risk products. Indian Bank plans a dedicated wealth management vertical for high net worth customers, while State Bank of India wants to multiply wealth assets under management fivefold to Rs 15 lakh crore by 2030 to boost customer engagement.

Banks are moving beyond deposits into wealth management to match changing customer habits
Indian Bank plans a wealth management vertical focused on high net worth individuals
SBI targets fivefold growth in wealth assets under management to Rs 15 lakh crore by 2030

#public sector banks #wealth management #sbi #hni #savings shift

Read the full story at The Economic Times

This summarization was done by Beige for a story published on The Economic Times

Public sector banks race into wealth management as deposits lose ground to market linked products

The full experience is on mobile.