DBS Bets on Physical Presence to Capture Asia’s Wealth Surge

DBS Group is set to launch 18 new wealth management centers across Asia by 2027, pairing the expansion with a comprehensive upgrade of 36 existing sites. This represents the largest physical footprint increase in the bank's history, aimed directly at an affluent regional market projected to hit $4.7 trillion by 2026.

The expansion spans Singapore, Hong Kong, mainland China, India, Indonesia, and Taiwan, with Singapore alone slated for a 50% increase in its Treasures wealth center footprint. While the financial industry leans heavily into digital transformation, DBS is doubling down on face-to-face interaction. Internal surveys from Hong Kong and Singapore indicate that roughly 45% of high-net-worth clients still prioritize in-person consultations, prompting the bank to pivot its strategy toward deepening advisor-client relationships rather than processing routine transactions.

Group head of consumer banking Sanjoy Sen emphasized that clients continue to demand a personal, familiar, and localized service experience. This strategic shift follows a period of robust growth for the bank, with wealth assets under management climbing to S$492 billion in the first quarter of 2026. The initial wave of center openings is scheduled for the third quarter, with the remaining infrastructure projects phased through the end of 2027 to serve both Treasures and higher-tier Treasures Private Client segments.