PETALING JAYA: UOB Malaysia intends to double its affluent customer base by 2028, elevating its wealth proposition to meet rising income levels, increasing financial sophistication, and evolving client expectations.
Citing findings from Boston Consulting Group’s Global Wealth Report 2026, UOB Malaysia noted that while the affluent and emerging high-net-worth (HNW) segment is expanding rapidly in markets like Malaysia, it remains underserved in terms of advisory access and support.
It said a significant share of wealth is still concentrated in deposits, reflecting limited access to advisory-led investment solutions.
“Leveraging the bank’s deep Asean connectivity, UOB Group is well positioned to serve this segment, supported by S$210bil (or approximately RM653bil) in assets under management (AUM) across its Retail Banking business.
“In Malaysia, the bank has already seen a strong momentum in its affluent wealth business, with invested AUM growing 30% since 2024, driven primarily by strong delivery of its fixed-income solutions, reflecting the Bank’s disciplined wealth advisory approach.”
UOB Malaysia said it has also seen a growing number of its affluent clients diversify a greater share of their savings and investable assets into investment solutions, underscoring increasing confidence in the bank’s advisory capabilities and its ability to protect and grow their wealth through a portfolio-based approach.
Country head of personal financial services Elaine Fan said Malaysia's investment culture is evolving rapidly, while a clear gap remains between clients' needs and what traditional banking models typically offer.
“Our focus is on bridging that gap by strengthening relationships with our clients and supporting them with the right advice as they transition towards more diverse, long-term wealth strategies.
“Our enhanced Privilege Banking proposition is anchored in trusted, advisory-led engagement, underpinned by our strong regional network and investment expertise,” she said.
