Singapore Wealth Management Fees Hit Records as Private Capital Inflows Grow

Singapore wealth management fees reached record levels at the country's three largest banks during the second quarter as continued inflows from affluent clients supported higher fee income.

DBS Group's wealth management fees jumped 42% to SGD919m (USD716m), while fees at Oversea-Chinese Banking Corporation increased 44% and United Overseas Bank recorded growth of more than 29%.

The results highlight Singapore's continued attraction of regional and international wealth as the city-state competes with Hong Kong for private banking and family office business.

OCBC, Singapore's best-performing bank stock this year, also recorded a 22% increase in quarterly profit and upgraded its outlook.

DBS said its 2026 income should exceed last year's level, while UOB reported a 10% increase in profit, supported partly by stronger wealth management fees.