Public sector lender, Union Bank of India is planning to enter into wealth management business by the next fiscal. The bank is trying to find suitable partners for this venture, said a senior official of the bank.

"We are proposing to enter into the area of wealth management. We are exploring the possibility of finding a partner who has the domain knowledge in the area of wealth management," S.C. Kalia, executive director said.

The bank is already in joint venture for its asset management as well as insurance business.