State Bank of India (SBI), the country’s largest lender has decided to enter into wealth management business. The bank is also tapping talents through lateral placements. For wealth management business, the bank will take extra care on customer services, critical for retaining individuals with huge wealth but little time. The bank is mulling to recruit 40 executives for the proposed arm besides existing bank managers, who will manage high net-worth individuals' wealth. Once a full team is set up, the bank would be going through training process to deal with customers.
The bank has posted a rise of 65.52% in its net profit at Rs 134.42 crore for the quarter ended March 31, 2015 as compared to Rs 81.21 crore for the same quarter in the previous year. Total income of the bank has increased by 11.55% at Rs 1308.04 crore for quarter under review as compared to Rs 1172.58 crore for the quarter ended March 31, 2014.
Company Name | CMP |
---|---|
SBI | 809.10 |
Bank Of Baroda | 265.80 |
PNB | 127.25 |
Canara Bank | 593.00 |
Union Bank Of India | 146.65 |
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