State Bank of India’s (SBI) wealth management franchise has set an ambitious target to scale its total assets under management (AUM) to Rs 15 lakh crore by 2030. Interestingly, in its first nine months of FY26, India’s largest lender has already added over Rs 1 lakh crore to its wealth management AUM to Rs 4 lakh crore, compared to Rs 2.83 lakh crore as of March 2025, a jump of over 40% following SBI’s sharpened focus on advisory-led wealth solutions. Capturing the Savings Shift “Out of the Rs 4 lakh crore AUM we manage today, a very large portion was earlier sitting only in deposits. We are now seeing a clear uptick on both the deposit side and the investment side as customers diversify their savings,” said CS Setty, Chairman, SBI. He added that “We are clearly seeing that household savings are being allocated more thoughtfully — some into mutual funds, some into insurance, and a meaningful share still into deposits. Our wealth platform is designed to capture this entire spectrum of customer behaviour.”