State Bank of India (SBI) Chairman Challa Sreenivasulu Setty
State Bank of India (SBI) is expecting the assets under management (AUM) of its wealth management business to grow almost five times to ₹15 lakh crore by 2030 from ₹2.83 lakh crore as at March-end 2025 in the wake of increasing financialisation of savings.
Challa Sreenivasulu Setty, Chairman, SBI, noted that the bank’s wealth management service, which currently has an AUM of about ₹4 lakh crore, has two components — a deposit component, comprising fixed deposits and CASA (current account, savings account) and an investment component.
The chief of India’s largest bank had said earlier that the investment component in the overall AUM of SBI Wealth was very low. It was mainly deposit-driven.
“We are seeing an uptick both on the deposit side as well as on the investment side,” he said. Out of the ₹15 lakh crore AUM that the wealth management service expects to build, about ₹4 lakh crore will be from the investment side.
SBI offers dedicated wealth management service to affluent customers through deposits and investment products such as mutual funds, insurance, portfolio management service, bonds and Alternative Investment Funds, aligned with individual risk profiles.
The business is backed by 1,068 Relationship Managers and a tiered Relationship Manager structure, per the bank’s latest annual report.
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Published on February 7, 2026
