DBS to Open 18 Wealth Centers Across Asia as Affluent Demand Grows

Fintech News Singapore. (2026, June 1). DBS to Open 18 Wealth Centres Across Asia as Affluent Demand Grows. Fintech Singapore. https://fintechnews.sg/132334/wealthtech/dbs-wealth-centres/

• DBS, a Singapore-based bank and wealth manager, announced plans to open 18 new wealth centers and upgrade 36 existing locations across Asia by the end of 2027 to accommodate growing demand for wealth management services.

• The expansion will encompass strategic locations across Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan, representing the largest physical growth of the bank's wealth franchise to date.

• This initiative aligns with projections estimating Asia's affluent wealth pool will reach US$4.7 trillion in 2026, coupled with persistent client preferences for face-to-face advisory services alongside digital tools.

• The newly established and upgraded facilities will be dedicated to portfolio advisory, investment and insurance discussions, cross-border wealth planning, and succession conversations.

• Group Head of Consumer Banking at DBS, Sanjoy Sen, noted that this physical expansion is strategically designed to bring relationship managers closer to clients within their daily environments.

• The bank's wealth assets under management recently surpassed the SGD 500 billion target more than a year ahead of schedule, driven significantly by existing clients upgrading across wealth segments.

• The first phase of these new wealth centers is scheduled to launch in the third quarter of 2026, with the rollout continuing progressively through 2027.

Knote: The mass affluent class in South Asia is growing like a well fed teenager. DBS is reporting that 40% of their wealth clients have come up from <$100,000. Average age in India is about 30 and are probably starting to save money for the first time.