SINGAPORE: DBS Group plans to boost assets under management for its wealth business to S$500 billion by the end of 2026, said the unit's head, as the top Singaporean bank bets on robust inflows into the country.
"I'm still growing ... the market is actually kind of at the cusp of a recovery because rates are peaking so as rates come down, markets pick up," said DBS' Group Executive and Group Head of Consumer Banking Group and Wealth Management Shee Tse Koon. Risk appetite among the wealthy had also improved with cash holdings declining to 25 per cent of portfolio totals in January 2024 from multi-decade highs of 34 per cent the same month a year ago, the report showed.Singapore's DBS bank confident of 15%-17% ROE in next 3-5 years, CEO says
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