DBS Group announced Monday its plans to establish 18 new wealth management centers throughout Asia before the end of 2027, while also enhancing 36 current locations within the next year and a half. This represents the banking institution’s most ambitious physical growth initiative for its wealth management division.
The initiative will cover Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan. Within Singapore specifically, DBS reported that its Treasures wealth center presence will grow by half through these new locations.
This strategic decision aligns with projections showing Asia’s affluent demographic – households possessing between $100,000 and $1 million in investible funds – is anticipated to total $4.7 trillion by 2026.
Research conducted in Hong Kong and Singapore reveals that approximately 45% of customers continue to prefer in-person meetings with financial advisors, despite increasing adoption of digital platforms.
DBS has transformed its wealth management division into a primary growth driver and emphasized that these new facilities will focus on strengthening client relationships rather than processing standard transactions.
Within Singapore and Hong Kong, the two dominant wealth markets, these centers will mainly accommodate Treasures clients, while locations in other regions will serve both Treasures and the premium Treasures Private Client categories.
This growth strategy builds upon robust performance in DBS’s wealth management sector. The bank reported that wealth assets under management totaled S$492 billion during the first quarter of 2026.
“What clients tell us… is that the relationship should feel personal, familiar and close to home,” stated Sanjoy Sen, group head of consumer banking.
Initial openings are scheduled to begin in the third quarter, with additional launches planned in phases extending through 2027.
