DBS targets $1t in retail and wealth AUM by 2030

Wealth assets rose to $641b in Q1, beating earlier growth targets.

DBS Group plans to grow assets under management (AUM) across its retail and wealth businesses to over $1t by 2030.

The group’s retail and wealth assets stood at $641b as of the first quarter of the year, up from $632b at the end of 2025 and nearly triple the $224b recorded in 2015.

Speaking at a media roundtable, DBS Group’s head of consumer banking & wealth management, Tse Koon Shee, said the bank is on track to surpass its 2027 target of $500b in AUM more than a year early.

"The way we look at the entire wealth business is not just about AUM growth, but also how we can help our customers actively deploy this AUM, diversify this AUM, and provide strategic advice to plan for the future," he said.

The bank attributed part of its recent wealth growth to investments in generative and agentic artificial intelligence (AI).

According to DBS, AI-enabled screening and client profiling have contributed to around 20% year-on-year growth in high-net-worth and ultra-high-net-worth clients as of May.

AI-supported personalised advisory and faster client onboarding helped drive approximately 30% growth in clients with diversified investment portfolios, it added.

DBS said that large language models and AI agents have increased relationship managers' face time with clients by about 10%, with the uplift expected to double by 2027.