Reported 7 months ago
DBS Group, Singapore's top bank, plans to increase its wealth assets to S$500 billion ($369.7 billion) by the end of 2026, according to the head of its wealth business unit. With a 23% growth in wealth assets to S$365 billion last year, DBS is confident in meeting its target, especially as Singapore continues to attract wealth inflows due to its stable political environment and favorable policies. The bank also aims to double its affluent clients and high-net-worth clients by the same period, amidst a global rise in high-net-worth-individual wealth and population. Despite a money laundering scandal, DBS remains optimistic about the growth of its wealth management business in Singapore.
Source: YAHOO