DBS's 18 new wealth centres across 6 markets by end-2027 is a direct bet on where Singapore banking's next growth chapter comes from. With interest income under pressure from rate normalisation, fee-based wealth management offers more stable recurring revenue. Asia's affluent population at USD 4.7 trillion in 2026 is a real addressable market. As Singapore investors, the test is whether DBS can win mandates against private banking incumbents that have decades of UHNW relationships. The expansion is the right strategy. The execution track record over the next two years is what determines whether it pays off.
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