The Singapore-headquartered banking group has given an upbeat assessment of its wealth management prospects.

OCBC, the Asia-based financial group and parent of Bank of Singapore, the private bank, said it expects its wealth business to remain resilient in the face of headwinds and predicts continued annual double-digit growth in assets, according to Channel News Asia.

The bank was quoted after the release of a survey of global wealth management trends by Credit Suisse, as reported by WealthBriefingAsia here.

The average wealth per adult in Singapore has risen by 40 per cent since 2000 to $269,400 in 2015.

“We have got relationships with business owners in Malang, in Surabaya, in Manado, across into Kuching, Kota Kinabalu, Muar, Batu Pahat. There are all these business people that built these very successful businesses in these countries and they have also been in a way underserved, in the private banking and wealth management space,” OCBC’s chief operating officer, Ching Wei-Hong, was quoted as saying.

The report noted that OCBC has more than 1,000 relationship managers in Singapore.

A report by the Business Times (of Singapore) said OCBC’s wealth management income is projected to reach a record S$2.6 billion (around $1.9 billion) this year, double the S$1.3 billion it achieved in 2011. Wealth management income is slated to make up 30 per cent of group income in 2015, up from 23 per cent in 2011. OCBC group's assets under management stood at S$195 billion at end-June 2015, up from S$121.6 billion in 2011