Recently, AMFI (Associations of Mutual Funds in India) published data signifying the average AUM (Assets under Management) per year in 2023. The distributor, which tops the list with aggregate Rs. 1.44 lakh crore AUM in the financial year 2022-2023 is the largest government bank in India, the SBI (State Bank of India).
By calculation, the revenue of SBI in this period is 17% more than FY 2021-2022. Next in line is NJIndia Invest, which is 13% more than previous FY.
HDFC Bank comes in the third place with an average AUM of Rs. 96,729 crore. Axis Bank, Prudent Corporate Advisory Services possess the 4th, 5th & 6th position consecutively with 30%, 18%, & 9% increased growth.
With Rs.10.66 thousand crores and Deutsche Bank AG comes in the final position with 12% increased growth from FY 2022-2022.
Overall, as a government bank SBI’s asset distribution is good news for the upcoming investment markets.
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