8 out of top 10 Mutual Fund Distributors by Commission are Banks. With more than 3200 cr of commission income in between them.
Strategy is Highly Biased ?
State Bank of India makes 99% of its mutual fund commission income from distributing schemes of SBI Mutual Fund.
SBI seems to have picked up distributing mutual funds only in last 3 years.
In last 1 year commission income has gone up from 178.7 cr to 557.9 cr !!!
| Year | Commission Income |
| 2017-18 | 557.9 |
| 2016-17 | 178.7 |
| 2015-16 | 62.12 |
| 2014-15 | 69.38 |
| 2013-14 | 28.95 |
| 2012-13 | 36.43 |
| 2011-12 | 30.76 |
| 2010-11 | 37.64 |
ICICI Bank gets 73% of the mutual fund commission income from distributing ICICI Prudential Mutual Fund.
But ICICI Securities only gets 18.5% of the commission income by distribution of ICICI Pru MF. Is it because one cannot buy Regular Plans through ICICI Direct but account holders have a choice to select their own preferred AMC ?
| ICICI Securities Limited | 316.53 | 58.45 | 18.5 |
Source Links
Websites of respective Mutual Funds