DBS sees strong growth in private bank business

The PB segment has benefited from inflows from its traditional markets such as Asean and Greater China, but it is also seeing inflows from Europe and the US, particularly from family offices looking to establish a foothold to invest in Asia.

Meanwhile high-net-worth clients have raised cash holdings to up to 40 per cent since the Covid-19 crisis, from a typical allocation of under 30 per cent. Mr Poon said clients are looking for opportunities to invest on the back of weaker asset prices."They believe there would be distressed assets or distressed prices going forward."

It has structured an investment note based on the barbell strategy - the DBS CIO Barbell Note. As at July 27 , the note has chalked up year-to-date returns of 11 per cent net of fees, outperforming its benchmark by about 6 per cent.

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DBS gets regulatory nod to set up JV securities company in ChinaDBS Group has received the green light from the China Securities Regulatory Commission (CSRC) to establish a joint venture (JV) securities company known as DBS Securities (China), in which DBS will have a controlling stake of 51 per cent. Read more at The Business Times.
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