SBI Targets Rs 15 Lakh Cr Wealth AUM by 2030, Eyes Ultra-Rich Clients

• SBI Chairman CS Setty announced plans to grow the bank's wealth AUM from Rs 4 lakh crore to Rs 15 lakh crore by 2030.
• The bank is specifically targeting high net worth and ultra-rich individuals across the country.
• Out of the Rs 15 lakh crore target, at least Rs 4 lakh crore is aimed to be in investment AUM, expanding beyond its current deposits-based portfolio.
• SBI views wealth management as a natural extension of its services, leveraging customer trust and the agility of YONO.
• This strategic focus positions SBI to compete in the rapidly growing wealth management sector alongside players like ICICI Bank, Kotak Mahindra Bank, and boutique firms.

Why It Matters: SBI aims to significantly boost its wealth AUM by 2030, focusing on affluent clients and investment growth.