DBS aims for US$100bil in private banking assets

SINGAPORE: Singapore’s DBS Group Holdings is aiming for a 40% jump in its private banking assets to US$100bil in less than three years, fuelled by the growth of millionaires in the Greater China region and in its home market.

DBS’s group head of wealth management Tan Su Shan said Singapore’s biggest lender was generating strong asset growth in its home market, where there were more than 100,000 millionaires, and in China, where sectors such as technology and real estate were adding to the millionaire population.