Foreign Banks Compete to Attract Premium Customers in Indonesia

Several multinational banks set double-digit growth targets in the wealth management business through the sales of investment products.

DBS Makin Fokus Garap Bisnis Wealth Management

DBS Group's market capitalization reached S$ 74.352 billion. | Katadata

PT Bank DBS Indonesia’s completion of the acquisition of ANZ’s retail and wealth management business will tighten competition in premium customer fund management here. A number of multinational banks have set double-digit growth targets through the sales of investment products.

The growing premium customer market in Indonesia is an attraction for banks to work on wealth management. Based on Capgemini SE’s World Wealth Report for 2017, the number of rich people in Indonesia rose 13.7 percent to 54,400 in 2016.

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