State Bank of India expands wealth management services targeting smaller businesses and wealthy individuals amid rising financial wealth in India.

State Bank of India, India's largest lender, is expanding its wealth management services with 2,000 executives as relationship managers targeting smaller businesses amid rising wealthy individuals. The bank aims to modernize its wealth management unit and enter a competitive market, including global companies like HSBC & Barclays, and local firms like ICICI and Axis. India's financial wealth increased by a record $590b in 2023, driving this expansion.

August 06, 2024
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