Winners rationale

In 2020, Credit Suisse Private Banking went above and beyond to stay close to clients during the COVID-19 pandemic and recorded high growth of assets and revenue in the South Asia HNW market segment.

As one of the first banks to transition to split teams and allow staff to fully work from home, Credit Suisse moved swiftly to provide close engagement to both HNW and UHNW clients via various touchpoints right from the onset of COVID-19. Worth noting, there was a 309% increase in transaction volumes for executed equity orders on its Digital Private Banking (DPB) platform, meaning a total of 61% of equity trades were done via DPB in 2020.

In terms of client acquisitions, Credit Suisse quickly adjusted to new ways to be able to prospect clients by initiating internal collaboration models, such as joint onshore referrals and next-gen strategy. In 2020, the bank onboarded a significant number of clients in the South Asia market, many of whom are on Forbes. Right after the dip in 1Q20, client assets recovered strongly with growing investor confidence in the bank’s advice and platform. Largely driven by the HNW client segment, Credit Suisse was on track in 2020 to record its best NNA growth year. Over the past four years, the bank’s clients asset bases have grown steadily.

In 2020, Credit Suisse enhanced its offerings for HNW clients by broadening and deepening the successful coverage of entrepreneur clients. The bank’s collaboration across businesses has been a strong contributor to its success in capturing a significant share of the entrepreneur-led activities in Asia.

Further, Credit Suisse has one of the broadest regional footprints onshore and offshore. Worth highlighting, assets of onshore clients in South Asia grew strongly YoY in 2020, with robust growth over the past three years.

With a broad and innovative product shelf, well-regarded bankers and a robust pipeline of client prospects, Credit Suisse is Asian Private Banker’s Best Private Bank – South Asia HNW for 2020.