NEWS & ADVICE : FIXED DEPOSITS
SBI aims to foray into wealth management biz this fiscal
By Neelima Shankar
Jun 17, 2010
Print    Email    RSS   

The largest lender of the country, State Bank of India is gearing up for entering into wealth management business this fiscal. The bank's move towards this end is an attempt to target the high net worth clients, an official of the bank said.

"We plan to introduce wealth management services in a phased manner in the current fiscal," SBI's Chairman, O P Bhatt said.

Alongside this plan, the banking major is also seeking a global partner for its merchant banking business which it aims to be run as a separate company.

"It is proposed to conduct the merchant acquiring business under a separate company with an experienced and reputed global partner," Bhatt said.

The bank also aims at setting up 6 lakh point of service (PoS) terminals in rural as well as urban areas of the country in the next five years, he added.

Presently, the SBI group has a network of 17,337 branches which includes 4,841 branches of its six associate banks.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs...
Financial planning: a tool to retire...
How to Invest to Save?
Do you know what led banks to calibrate...
ICICI Bank’s recurring deposit scheme


Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive