Awards for Distinction 2023 – Best International Private Bank – Taiwan

Best International Private Bank Taiwan

 

DBS Bank

Best International Private Bank – Taiwan

Joseph Poon

Group head
DBS Private Bank

We are honoured to receive the prestigious recognition for Best International Private Bank in Taiwan, and Best Private Bank – Singapore HNW and UHNW. These achievements underscore DBS Private Bank’s steadfast commitment to delivering exceptional wealth advisory services tailored to the distinctive needs of our esteemed clients throughout the region.

The acknowledgement in these categories affirms our sound strategy and leadership position in Singapore and the region. We did not achieve this overnight, and the wins bear testament to our relentless pursuit of excellence in our capabilities, particularly in the family office space. We will not rest on our laurels but continuously refine and further strengthen our capabilities to keep pace with our clients’ evolving needs in a world marked by increased uncertainties.

What was behind the judges’ decision?

  • With the acquisition of Citi Consumer Taiwan last year, DBS Bank has become Taiwan’s largest foreign bank by assets. Its client assets and revenue in wealth management have seen significant growth
  • DBS Bank Taiwan has also integrated its platform and solutions with Citi Taiwan, which convinced the judging panel that DBS Bank currently has one of the best product offerings in the market
  • Last year, the Singaporean bank also implemented MtJ (Managing through Journey) to improve client and business outcomes in a data-driven way. The implementation of MtJ has successfully driven insurance momentum and revenue up

What we said

“2023 was a year in which DBS Bank shined in Taiwan. As the largest lender in Southeast Asia, DBS’s inroads in North Asia have seen tremendous growth since DBS Bank made a strategic deal to acquire Citigroup Taiwan’s consumer business. That decision set DBS Wealth Management apart to become one of the top wealth managers in Taiwan with robust growth in AUM and new client assets,” said Carly Lau, senior reporter, Asian Private Banker.

“Its success is also supported by the strong proposition of the bank’s highest wealth segment, DBS Treasures Private Client, from digital offerings to its extensive platforms and solutions. DBS has also seen robust revenue growth in 2023 by integrating Citi’s regional strengths.

“Taiwan may be a difficult market to crack for many international private banks, but DBS Wealth Management proved its hard work paid off. The judging panel of Asian Private Banker is delighted to name DBS Bank as Best International Private Bank – Taiwan for 2023.”

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