More Millennials Turn to DBS Treasures to Invest as User Numbers Nearly Triple
DBS nearly tripled its millennial retail customers who moved to DBS Treasures in the first half of 2026. This increase reflects a broader trend of customers in their 30s and early 40s seeking wealth advice and starting investments earlier due to longer lifespans and growing financial commitments. Overall, DBS Treasures saw a 180% year-on-year rise in retail customers during the same period. The bank plans to expand its wealth management capabilities by hiring over 600 relationship managers and engineers by 2028 and opening 18 new wealth centers across the region by 2027.
DBS's significant growth in millennial wealth management clients, nearly tripling in the first half of 2026, points to a broader shift in Singapore's financial landscape. Younger generations are engaging with wealth planning earlier, driven by evolving economic realities. This trend extends beyond millennials, with overall retail customer migration to DBS Treasures up 180% year-on-year, suggesting a robust demand for structured financial advice across age groups. The bank's response includes aggressive expansion, with plans to hire over 600 staff and open 18 new wealth centers by 2028. Critically, DBS is also integrating AI tools to streamline administrative tasks for relationship managers, cutting onboarding time for new wealth clients by 50%. This dual approach of human expertise and technological efficiency reflects a pragmatic strategy to scale personalized wealth services in a competitive market like Singapore. The thing to watch is how effectively DBS can maintain service quality and client trust as it rapidly expands its physical and digital footprint.
