DBS In Taiwan Has High Hopes For Wealth Management Growth - Report

Tom Burroughes

16 May 2014

DBS Bank Taiwan aims to grow its wealth management and fee income by a quarter this year, the lender has told the Taipei Times publication.

“We expect growth in wealth management and fee income to reach 25 percent this year” amid the improving economy at home and abroad, DBS Bank Taiwan general manager Jerry Chen is quoted as telling the publication in an interview. The report coincided with DBS’s opening of a new branch of Taipei’s Zhongzheng District.

The lender has yet to see a concrete increase in wealth management demand linked to the recent deregulation of offshore banking units, Chen said.

Chen said he is not clear on how the proposed free economic pilot zones could benefit DBS’ operations in Taiwan, but welcomes the government’s plan to create a regional champion among domestic financial institutions, the report said.

has 42 branches in Taiwan and plans to maintain that number for the foreseeable future, Chen said.

The lender, headquartered in Singapore, recently bought the Asian private banking arm of Societe Generale, the Paris-listed banking group.