India’s private banking AUM surpasses US$850 million
Currency headwinds slow India’s growth narrative
India’s private banking AUM reached another record high of US$870 million in 2025. However, growth in the market decelerated from 20% in 2024 to 12% this year. The latest rankings also highlight a market moving at two speeds, with two-thirds of players recording double-digit growth, while the remainder saw muted performance or were dragged into negative territory by adverse currency effects.
RM headcount logs back-to-back growth
All players now above US$150 billion
India hiring bucks Asia’s regional slowdown
India’s collective private banking headcount maintained its upward trajectory in 2025, replicating the 10% growth seen in the previous year. Driven by local and global expansion and India’s growing high-net-worth population, players grew their RM bench by an average of 15% in 2025. This contrasts with the broader landscape in Asia, where firms slowed hiring and adopted a more selective approach.