DBS Bank has launched a wealth management proposition tailored for High Net Worth Individuals (HNIs) and Non-Resident Indians (NRIs) in India, leveraging its Asian network and cutting-edge digital expertise. The announcement coincides with the inauguration of the bank’s third flagship branch in Indiranagar, Bengaluru, underscoring its commitment to the country’s technology and financial hubs.
As part of its premium offerings, DBS Treasures clients—those with a Total Relationship Value exceeding Rs 30 lakh—can access wealth management services, preferential foreign exchange rates, waived service fees and global ATM fee waivers across key DBS markets, including Singapore, Hong Kong, Taiwan, Indonesia, India and China.
The bank has also launched the invite-only DBS Vantage Card in India, designed for high-net-worth customers and frequent international travelers. Cardholders benefit from zero forex markup on transactions in Singapore, a low forex rate of 1.75 per cent elsewhere, and earn 8 Vantage Points for every Rs 200 spent internationally.
To address the unique financial and lifestyle needs of elderly resident customers, DBS introduced the ‘DBS Golden Circle’ initiative, aiming to ensure that this segment enjoys both financial security and lifestyle benefits under its philosophy of ‘Live More, Bank Less.’
Speaking on these initiatives, Richa Tripathi, Head of Wealth Management and Treasures, DBS Bank India, highlighted the bank’s deep understanding of Indian and NRI customer preferences. She noted, “The pattern of wealth creation in India has become more decentralised, necessitating a stronger regional presence. Bengaluru’s entrepreneurial ecosystem and rise in investable wealth make it an ideal market to pilot our premium banking products. Our new signature branch here is designed to offer exclusive and personalised services to address the complex needs of affluent and NRI clients, as well as business owners.”
The newly launched branch complements DBS Bank’s existing 26 branches in Bengaluru and offers bespoke financial solutions such as cross-border banking, wealth management services and exclusive privileges for affluent clients. The expansion reflects Bengaluru’s significance as a growth driver for DBS in India and aligns with the increasing demand for customised financial services among globally mobile Indians.
India witnessed a record $588 billion in new financial wealth in 2023, with annual growth expected to reach $730 billion until 2028. This surge in affluence has amplified the demand for tailored financial solutions catering to the evolving needs of HNIs and NRIs.
DBS Bank’s phygital approach—combining physical branches with digital solutions—includes seamless online account opening for NRIs, enhancing convenience and unlocking greater value.
With Asia emerging as a global wealth hub and India at its core, DBS Bank is well-positioned to capitalize on the region’s growth. As the largest bank in Southeast Asia, DBS plans to leverage its Asian connectivity and digital innovation to empower its Indian and NRI clients.
