DBS Group, Singapore’s largest bank, is now embarking on its biggest wealth management expansion, unveiling plans to open 18 new wealth centres across Asia and upgrading dozens of existing locations as competition for the region’s fast-growing affluent population intensifies. The move signals that even in an increasingly digital banking environment, face-to-face financial advisory services remain a crucial part of wealth management strategies.
DBS said it will launch the new centres by the end of 2027 and renovate 36 existing facilities over the next 18 months. The expansion will span several key Asian markets, including Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan. According to the bank, this marks the largest physical expansion of its wealth franchise to date.
The decision comes as Asia continues to generate one of the fastest-growing pools of wealthy individuals globally. Industry projections estimate that households holding between $100,000 and $1 million in investable assets will collectively control around $4.7 trillion in wealth this year. Banks across the region are racing to capture a larger share of that market as rising incomes, entrepreneurship, and intergenerational wealth transfers create new demand for investment and financial planning services.
While many financial institutions have invested heavily in digital platforms, DBS believes physical advisory centres are still important, particularly for clients making major investment decisions. Internal surveys conducted by the bank found that roughly 45% of affluent customers in Singapore and Hong Kong continue to prefer meeting financial advisers in person despite widespread adoption of mobile banking and digital wealth tools.
Executives say the new centres are not intended to function as traditional bank branches focused on routine transactions. Instead, they are being designed as relationship-driven advisory hubs where clients can receive personalized financial planning, portfolio management guidance, retirement advice, and investment consultation. The goal is to strengthen long-term client engagement rather than simply process everyday banking activities.
In Singapore, DBS plans to increase its network of Treasures wealth centres by around 50%, reflecting strong demand in its home market. The centres in Singapore and Hong Kong will primarily serve Treasures customers, the bank’s affluent banking segment. In other markets such as India, Indonesia, and Taiwan, the facilities will cater to both Treasures and higher-tier Treasures Private Client customers.
