Asia’s best bank for wealth management 2023: DBS
Euromoney, is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsAwards for Excellence

Asia’s best bank for wealth management 2023: DBS

Singapore is Asia’s leading private banking hub – and at the heart of that story is DBS, a bank that has remade itself over the past decade and a half into one of the world’s best wealth managers.

DBS wins this award for many reasons. For one thing, in a year where many private banks suffered an outflow of client capital, the firm saw net new money double in 2022, hitting a record S$24 billion ($17.8 billion). Assets under management inched up 3% year on year in 2022, to $224 billion, with wealth management pre-tax profit jumping 40% to $2.03 billion. In the five years to the end of 2022, DBS has more than doubled the share of recurring fees to 25% of total fee income.

A good measure of that new money came from existing clients in the region, but a sizeable chunk came from new regional as well as global customers.

Gift this article