DBS Group aims to increase wealth assets to S$500bn by 2026, targeting to double wealthy clients with at least S$1m assets.
DBS Group, Southeast Asia's largest bank, plans to boost its wealth assets under management to S$500 billion ($369.7 billion) by 2026. Wealth assets at DBS grew 23% to S$365 billion last year, driven by strong inflows of wealth into Asia due to Singapore's stability, low taxes, and favorable policies for family offices and trusts. The bank aims to double its wealthy clients with assets of at least S$1 million by 2026.
June 12, 2024
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