DBS sees millennial wealth clients triple in H1 2026

Investment balances of customers who joined in 2025 grew nearly sixfold.

DBS recorded that its number of millennial retail customers who moved up to DBS Treasures tripled in the first half of 2026 compared with the same period last year.

The number of DBS retail customers progressing to Treasures rose 180% year-on-year in the first half of 2026. Investment balances of clients who moved into DBS Treasures in 2025 have since grown nearly sixfold.

DBS also said it plans to hire more than 600 additional relationship managers, frontline advisors and platform engineers by the end of 2028.

It will also open 18 new wealth centres and upgrade 36 existing ones across the region by end-2027, with its DBS Treasures wealth-centre footprint in Singapore growing by 50%.

The centres are designed for conversations rather than transactions, giving clients dedicated spaces to review portfolios, discuss long-term goals and meet relationship managers and specialists.

AI-enabled tools are also helping DBS relationship managers free up time for these conversations. Turnaround time for onboarding new-to-bank wealth clients has been cut by 50%.

The bank said this rise reflects a growing cohort of younger affluent customers recognising that starting early can put them in a stronger position to build wealth over time.

More millennial customers are progressing to higher wealth brackets earlier, as those in their 30s and early 40s seek wealth advice and act on their financial plans sooner.

“Against this backdrop, more Singaporeans are recognising that building wealth cannot wait until later in life. Starting earlier and staying invested over the long run gives them more time and more options,” said Andrew Bok, head of DBS Treasures Singapore, said in a press release.

“At DBS Treasures, we want to grow with our clients through every stage of their wealth journey, from their first investments to retirement and legacy planning. In the first half of this year, seven in 10 Treasures clients who progressed to DBS Treasures first banked with us as retail customers,” Bok added.

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