Singapore Banks Record $61 Billion Inflows from Asia’s Wealthy Investors

Singapore’s top 3 banks reported a combined S$77 billion ($61 billion) in net new wealth inflows over the past year, according to a Bloomberg report . 

DBS Group Holdings (DBS) received S$39 billion, bringing its wealth assets under management (AUM) to S$488 billion. Oversea-Chinese Banking Corporation (OCBC) recorded S$27 billion in inflows, lifting its wealth AUM to S$343 billion, whereas, United Overseas Bank added S$11 billion, with high-net-worth AUM reaching S$201 billion. 

Rising Importance of Fee Income 

The inflows were recorded at a time when pressure on lending margins persisted. Income from wealth services became a larger contributor to overall earnings. Wealth management fees increased by 33% at OCBC and 29% at DBS during the year. 

This reflected a shift in focus towards advisory and investment services. 

External Developments Influence Allocation 

The movement of assets occurred amid global tensions and uneven economic recovery. Conflicts in Europe and the Middle East, reportedly strained relations between the United States and China, and slower growth in China contributed to investor caution. 

Such conditions prompted some high-net-worth individuals to review where their assets were held. 

Regional Growth Initiatives 

OCBC is expanding its private banking operations in Indonesia through Bank of Singapore. The initiative targets clients with holdings both within and outside the country. 

DBS reported growth in its wealth business across India, Indonesia, Taiwan, Hong Kong and Singapore. 

Wider Financial Activity 

Reports suggest that Singapore’s financial services sector also saw developments beyond banking. Manulife Financial issued a $300 million life insurance policy in the city-state, recognised by Guinness World Records as the largest issued. 

Read More: India Tech Industry Projected to Reach $315 Billion in FY26 with AI Revenues $10‑12 Billion! 

Conclusion 

The latest figures indicate continued inflows into Singapore’s banking system as regional investors adjust asset allocations amid ongoing global uncertainty. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.