DBS Treasures Private client eyes double-digit AuM growth and helps private banking clients strengthen cross-generational footprints as it marks 6th anniversary
Indonesia, 11 Sep 2024 - DBS Treasures Private Client marked its sixth anniversary with renewed commitment as a trusted wealth management partner for clients and their future generations. Indonesia Deposit Insurance Corporation (LPS) data show that in 2024, the number of accounts with deposits exceeding Rp5 billion was 16 percent higher than in 2022, with the nominal amount of deposits up by 22 percent. This indicates that the number of High Net Worth Individuals (HNWI) in Indonesia continues to grow. Naturally, these clients need to maintain their success and prepare their successors so that they can continue and expand their businesses and grow their inherited wealth.
This is consistent with the findings of the Customer Immersion study on the private banking segment conducted by DBS Treasures Private Client in 2024. As a rule, clients face challenges in navigating the complexity of information to maintain business success and asset value amidst the busy life as entrepreneurs.
They also have to prepare the next generation, who may be hesitant about continuing the business and may have different ideas about the future direction of the business. Sometimes, the family business may not align with the interests of the successors so the latter must innovate to continue the business without direct involvement in daily operations. On the other hand, the future generation also needs validation of their success.
“Now in its sixth year, DBS Treasures Private Client maintains the commitment to understanding the challenges faced by customers, supporting them in cementing their footprint for generations to come as they prepare their successors to continue and strengthen their legacy,” said PT Bank DBS Indonesia Consumer Banking Director
Melfrida Gultom
.
DBS Treasures Private Client solutions encompass:
1. Pesonalised solutions supported by the latest technology, Artificial Intelligence/Machine Learning:
Insights and latest opportunities from signals analysed by the regional Chief Investment Office (CIO) team and discussed with experienced Relationship Managers.
Networking events
tailored to fit clients and their future generations as well as other customers, Bank DBS' team of experts at home and abroad, and leading industry experts.
2. Individual Customer Fund Management (PDNI)
, with investment asset components that are customised to suit customers’ needs & risk tolerance.
3. Business solutions that connect customers with Bank DBS' international network
to facilitate expansion, including cross-border payments to and from Bank DBS' global network in 10 minutes, FX Account with a choice of 12 currencies in one account, and IDEAL mobile banking application for easy working capital management and transactions.
4. Regional Connectivity & Privileges
that include the convenience of opening accounts in Bank DBS’ network for business needs and to support children's education overseas, as well as a variety of attractive lifestyle privileges in various countries, such as DBS Private Access membership, DBS Airport Transfer & Assistance, Holistic Wellness Benefit, and Singapore connectivity.
Thanks to customer trust and all these efforts, DBS Treasures Private Client has been able to report growth in total assets under management (AUM) and is eying a double-digit growth in 2024.
DBS Treasures Private Client has also responded to the growing trend of Environmental, Social, and Governance (ESG) practices and public awareness of sustainability issues. Financial Services Authority (OJK) data shows that the AUM of ESG-based mutual funds in Indonesia stood at Rp8.21 trillion in June 2024. DBS Treasures Private Client also provides various ESG-based mutual fund products, such as Batavia Global ESG Sharia Equity USD, BNP Paribas Sri-Kehati, and Ashmore Digital Equity Sustainable Fund, to capture ESG trends that offer high potential returns and long-term growth while making a positive impact on the community and the environment. Additionally, the Green Savings Account allows customers to donate a portion of the interest earned from their savings accounts, supporting social enterprise partners such as Krakakoa (to encourage sustainable cocoa farming and improve the lives of cocoa farmers) and Yayasan Tangan Pengharapan (to support educational equity in remote areas of Indonesia).
These efforts are also a testament to Bank DBS Indonesia's 'spark' to provide comprehensive solutions and a pleasant banking experience for customers, in line with its '
Trust Your Spark
' spirit. For more information on DBS Treasures Private Client, please access the following page:
dbs.id/id/treasures-private-client
.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named
“World’s Best Bank”
by Global Finance,
“World’s Best Bank”
by Euromoney and
“Global Bank of the Year”
by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named
“World’s Best Digital Bank
” by Euromoney and the world’s “
Most Innovative in Digital Banking”
by The Banker. In addition, DBS has been accorded the
“Safest Bank in Asia
“ award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as
World’s Best Bank in Indonesia
for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia
is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit
www.dbs.com
.
DBS Bank Ltd | 12 Marina Boulevard, DBS Asia Central @ Marina Bay Financial Centre Tower 3,
Singapore 018982 | Co. Reg. No. 196800306E
Tel: 65.6878 8888 | www.dbs.com
