1/ What is the uniqueness of DBS Private Bank?
DBS Private Bank is very unique, because we are actually one of the best capitalised banks based out of Asia, headquartered in Singapore, with a very big hub in Hong Kong.
Although we are Asia based, I think our capabilities are global and universal-bank-like. We have global product platform capabilities, we have a very strong in-house wealth management, chief investment officer capabilities. And with that we can leverage and bring that to our clients.
When our clients look at us versus the other global banks, which have only branch capabilities out here with minimal specialists servicing them. But for us, this is the core competency. So we have the expertise to help the clients and bring a unique level perspective to our clients for Asian developed products.
Not only that, we have a very strong presence in Hong Kong, leveraging that as a sort of a hub and a beachhead towards covering the biggest economy in the world in China. And headquartered in Singapore also has expertise in facing India and Indonesia and the other Southeast Asian nations. As a result, together with a strong platform that we have, we've been able to leverage on this to deliver best in class results for our clients.
In fact, we were recognised by many of the international publications and magazines. For instance, we are the Best Asian Private Bank by Asiamoney and Euromoney. We were ranked Best Private Bank in Asia Pacific by Global Finance. For seven years in a row, we were given Excellence in Private Banking by Bloomberg Businessweek.
2/ What does the banking needs of these high net worth customers?
I think the needs of the ultra high clients or high net worth clients haven't really changed over time. They still require wealth preservations, and they still require asset protection. Most of them are entrepreneurs or second generation families. And they are all busy running their own business and doing their day to day business. And so what they require from us, is a bank with the expertise and the platform to help them manage their assets, and then to help them plan and protect their wealth for the next generations. DBS Private Bank can offer clients in a very unique proposition.
We have various departments going to cover our ultra high net worth clients from Corporate Banking, all the way to Private Banking, and service them as an One-Bank Solution.
3/ You mentioned about One-Bank Strategy, can you share more about it?
Where we add value to our clients, not just in Private Banking. Most of them run their own businesses, and when they want to have the business grow, whether it's into a new market like China, for instance, we can introduce them to our Corporate Banking group where we have very strong expertise and capabilities, and help the business grows and penetrate and get new partners in China.
So these are some of the things that we try to help our clients and be differentiated and value added.
So it's not only on the Private Banking side, but also for their core businesses, for the clients on where they care about the most actually.