DBS Records Near-Threefold Growth in Millennial Affluent Clients in Singapore

DBS. (2026, August 22). DBS records near-threefold growth in millennial affluent clients as wealth advice and investments gain ground in Singapore. https://www.dbs.com/newsroom/DBS_records_near_threefold_growth_in_millennial_affluent_clients_as_wealth_advice_and_investments_gain_ground_in_Singapore

• The number of millennial retail customers who moved to DBS Treasures tripled in the first half of 2026 compared with the same period last year.

• The overall number of DBS retail customers progressing to Treasures rose 180% year-on-year in the first half of 2026.

• Seven in 10 clients who progressed to DBS Treasures in the first half of 2026 first banked with DBS as retail customers.

• Investment balances of clients who moved into DBS Treasures in 2025 have since grown nearly sixfold.

• DBS plans to hire more than 600 additional relationship managers, frontline advisors and platform engineers by the end of 2028.

• The bank will open 18 new wealth centers and upgrade 36 existing centers across the region by end-2027, increasing its Singapore Treasures wealth center footprint by 50%.

• AI-enabled tools have reduced turnaround time for onboarding new-to-bank wealth clients by 50%.

Knote: Not strictly WealthTech, but tangential evidence of the WealthTech growth we are seeing in the East. And the DBS Treasures platform is probably one of the most digitally advanced of the majors.