DBS to open 2 new wealth centres in Singapore by end-2027 to better serve affluent customers
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An artist’s impression of the waiting lounge at one of DBS' upcoming wealth centres.
PHOTO: DBS
SINGAPORE - DBS’ affluent and high-net-worth customers in Singapore will be able to access two new wealth centres here by the end of 2027, in a move to meet increasing demand for wealth management services.
The two new wealth centres will add to three existing DBS Treasures centres – at Marina Bay Financial Centre, Siglap and Ngee Ann City – which offer wealth management services.
When asked, a DBS spokesperson said more details on the new wealth centres in Singapore, including their locations, will be announced later.
The minimum investible assets requirement to be a DBS Treasures client in Singapore is $350,000.
The roll-out is part of 18 upcoming DBS wealth centres across four core markets – Singapore, Hong Kong, mainland China and India – in what the bank called the largest physical expansion of its wealth franchise so far.
More details on the new wealth centres in Singapore, including their locations, will be announced later.
PHOTO: DBS
The first few wealth centres are expected to open in the third quarter of 2026, with phased roll-outs continuing through 2027, the bank said on June 1.
On top of the new wealth centres, South-east Asia’s largest bank by assets will also upgrade 36 existing wealth centres across Asia in the next 18 months.
The wealth centres will enable the bank to serve its clients through a range of services, ranging from portfolio advisory to access to sophisticated wealth solutions.
The centres will also hold more dedicated spaces for meetings between relationship managers and clients, said DBS.
DBS said that more affluent clients are seeking professional advice and guidance to grow, protect and pass on their wealth. Even as investors increasingly switch to digital platforms to manage their wealth, face-to-face meetings still remain important for many of them, it said.
The announcement comes as Asia’s affluent segment – households with US$100,000 (S$128,000) to US$1 million in investible assets – is growing at an exponential rate, with the wealth pool projected to hit US$4.7 trillion by 2026, up from US$2.7 trillion in 2021.
The wealth centres will enable the bank to serve its clients through a range of services, ranging from portfolio advisory to access to sophisticated wealth solutions.
PHOTO: DBS
In a statement, DBS group head of consumer banking Sanjoy Sen said: “A wealth relationship today is not measured in years but in generations. The client who opens an investment account with us in his or her 20s could be the founder we serve through their 40s and the family office principal we work with in their 70s.”
Sen said: “What clients tell us, more than anything else, is that the relationship they want with their bank should feel personal, familiar and close to home.
“That is true, whether they are opening their first investment account in Hong Kong, planning succession in Singapore or navigating cross-border wealth from Taipei.”
The centres will also hold more dedicated spaces for meetings between relationship managers and clients, said DBS.
PHOTO: DBS
The latest development comes as Singapore’s banks are increasingly pivoting to wealth management, as falling interest rates reduce profits from lending.
DBS’ net profit for the first quarter of 2026 grew 1 per cent to $2.93 billion, driven by record fee income from its wealth management business.
The bank’s wealth assets under management reached $492 billion in the first quarter of 2026, nearly surpassing the bank’s publicly stated $500 billion target by end-2026.
Additionally, up to 40 per cent of the bank’s new private banking clients have been existing customers who have moved up the wealth ladder.
