The number of high-net-worth clients and their assets under management in Taiwan has doubled in the past year, according to data from the Financial Supervisory Commission. The regulator defines high net worth individuals as those with assets of more than TWD1bn (USD32.84m). The number of such individuals grew by 124% year on year to 3,934, while `assets under management increased 118% to TWD484.1bn. The growth was driven in part by banks expanding their wealth management services, and two lenders – E.Sun Commercial Bank and Taipei Fubon Commercial Bank – receiving approval to serve high-net-worth clients. About half of high-net-worth clients prefer deposits as their primary product, while there is an increased appetite for bonds that offer higher yields.
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