BENGALURU: DBS Group announced on Monday its ambitious plan to open 18 new wealth centres across Asia by the end of 2027, alongside upgrades to 36 existing facilities over the next 18 months. This initiative marks the largest physical expansion of its wealth franchise to date.
Expansion Details
The expansion will span key Asian markets, including Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan. In Singapore alone, DBS stated that its Treasures wealth centre footprint will increase by 50% with the new openings.
Strategic Rationale
The move comes as Asia's affluent wealth pool—households with investible assets ranging from $100,000 to $1 million—is projected to reach $4.7 trillion by 2026. This growth underscores the increasing demand for wealth management services in the region.
DBS's expansion strategy reflects its commitment to capturing a larger share of the wealth management market in Asia, leveraging its strong presence and expertise in the region. The bank aims to enhance its service offerings and provide greater accessibility to its clients.
