DBS wants to add about S$400 billion in assets under management over five years as it expands its wealth business across Asia.
The bank is targeting more than S$1 trillion in retail and wealth AUM by 2030, The Business Times reported.
Total AUM reached S$644 billion in the first quarter of 2026, with wealth clients accounting for 77 percent.
Its wealth AUM stood at S$492 billion, close to its S$500 billion target for end-2026. About 58 percent was invested in financial products.
AI Speeds Up Wealth Operations
DBS is using generative and agentic AI to streamline onboarding, improve portfolio tools and reduce manual work.
As of May 2026, the bank had acquired 20 percent more new high-net-worth and ultra-high-net-worth clients year on year.
Name-screening time fell 75 percent, while source-of-wealth profiling time dropped 20 percent.
The bank also recorded a 30 percent increase in customers with diversified portfolios. Automation gave advisers 10 percent more time with clients.
As of February 2026, its digiWealth platform had generated five times more financial-planning enquiries year on year, while regular savings plan adoption rose 42 percent.
DBS is also expanding through partnerships and new wealth centres.
It signed an agreement with Samsung Securities in July to explore a wealth management partnership that would expand access to South Korean and international investment products.
The bank plans to open 18 wealth centres across Singapore, Hong Kong, mainland China, Taiwan, Indonesia and India. Hiring will also extend to Dubai and London.
DBS serves clients from about 120 nationalities and reported a cost-to-income ratio below 50 percent and a return on equity of 72 percent for its wealth business.
Featured image: Edited by Fintech News Singapore, based on image by DBS
