The State Bank of India (SBI) launched its wealth business services in the State by opening a ‘Wealth Hub’ at its Local Head Office here on Monday.
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 individual) clients through a dedicated team of relationship managers.
SBI Chairman Rajnish Kumar stated this at a Press meet after inaugurating the service.
SBI is the first PSU bank in the country to introduce comprehensive wealth business services. The SBI Wealth has presence in 25 major centres with a network of 95 Wealth Hubs in the country, he said adding that the SBI has targeted to open 50 SBI Health centes in the State by 2020.
Presently, SBI Wealth is serving nearly 36,000 clients and is looking to significantly increase its clients base to 1, 25, 000 with an AUM of Rs 100,000 crore in the next two years.
The SBI has a total of 883 branches operating in Odisha out of which 706 branches are provided service rural and semi urban areas. It has 2,854 branches operating in the State.
Responding to questions, Kumar said the SBI would open six more branches and ATMs in coming days keeping requirement of people in view.
He made it clear that SBI customers need to maintain a minimum balance of Rs 500 in rural areas and Rs 1,000 in urban areas.
