DBS Targets $370 Billion in Wealth Assets by 2026, Capitalizing on Asia’s Affluent Boom

DBS Targets $370 Billion in Wealth Assets by 2026, Capitalizing on Asia's Affluent Boom
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DBS Bank, Sin­ga­pore’s lead­ing lender, sets an ambi­tious tar­get to reach $370 bil­lion in wealth man­age­ment assets under man­age­ment (AUM) by 2026. This strat­e­gy lever­ages the surg­ing wealth in Asia, where high-net-worth indi­vid­u­als are rapid­ly increasing.

Sim S. Lim, DBS’s Group Head of Wealth Man­age­ment, revealed the bank’s plan to reach $370 bil­lion in AUM by 2026. This sig­ni­fies a sig­nif­i­cant growth from their cur­rent AUM of $240 bil­lion (as of 2023).

Expand­ing wealth man­age­ment is a key pri­or­i­ty for DBS, aim­ing to diver­si­fy rev­enue and cater to Asi­a’s grow­ing afflu­ence. Chi­na, Hong Kong, and Sin­ga­pore are wit­ness­ing a remark­able rise in high-net-worth indi­vid­u­als, pre­sent­ing a lucra­tive opportunity.

By focus­ing on wealth man­age­ment, DBS strength­ens its posi­tion as a leader in Asian bank­ing. Indus­try ana­lysts are keen to see if DBS achieves its $370 bil­lion tar­get, reflect­ing their con­fi­dence in cap­tur­ing a larg­er share of the region’s wealth.

This focus on wealth man­age­ment aligns with DBS’s broad­er strat­e­gy to become Asi­a’s pre­mier finan­cial ser­vices provider for afflu­ent clients. Their exper­tise and net­work posi­tion them to become a dom­i­nant play­er in the wealth man­age­ment sector.

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