India private wealth management AUM up 5%
Top 30 companies
India’s private banking industry accomplished a notable milestone in 2022, surpassing the US$500 billion mark in assets under management (AUM) for the first time. Some companies experienced significant inflows, primarily due to their expansion into Tier 2 and Tier 3 cities. The 2022 AUM league table witnessed various entities experiencing both rises and falls in their rankings.
RM power boost
More hires to conquer HNW market
The Indian wealth market witnessed a 47% increase in the number of relationship managers (RMs) in 2022. There have been mixed outcomes in terms of AUM per RM, with certain firms witnessing RMs handling larger amounts as they expand into additional cities, while others observe RMs managing smaller amounts.
India’s wealth race
Top players battle for dominance
In 2022, India’s private banking industry amassed over US$50 billion in net new assets. Nevertheless, AUM remains heavily concentrated among a few key players, with the top 10 entities controlling the lion’s share of industry assets, indicating significant market concentration.