Best private bank: ICICI Bank
ICICI Bank has cemented its position as a leader in Indian wealth management, driven by robust asset growth, a thriving family office business and cutting-edge digital innovation.
The bank reported total assets of $300 billion at the end of the review period, up 18.43% year on year, with assets under management up 12% to $67 billion.
Particularly notable is the growth of the family office business, which managed assets worth $19.9 billion at the end of the review period. ICICI Bank Private Banking’s market share among India's top 1,000 wealthy families increased to more than 45% at the end of September 2024, up from 40% the previous year.
To support this growth, the bank has doubled the division’s headcount, enhancing its leadership and expertise in the investment advisory sector across the country.
Digital transformation has been another standout success.