UOB Malaysia Enhances Privilege Banking, Aims To Double Affluent Clientele By 2028
KUALA LUMPUR, June 18 (Bernama) -- UOB Malaysia has enhanced its Privilege Banking offering with expanded wealth advisory services, personalised client support and lifestyle benefits as it targets to double its affluent customer base by 2028.
The bank said findings from Boston Consulting Group's Global Wealth Report 2026 showed that while the affluent and emerging high-net-worth segment is expanding rapidly in Malaysia, it remains underserved in terms of investment advisory services and support.
“A significant share of wealth is still concentrated in deposits reflecting limited access to advisory-led investment solutions,” it said in a statement.
UOB Malaysia said the group is well positioned to serve the growing affluent segment, backed by S$210 billion (RM653 billion) in assets under management (AUM) across its retail banking business.
“In Malaysia, the bank has already seen a strong momentum in its affluent wealth business, with invested AUM growing 30 per cent since 2024, driven primarily by strong delivery of its fixed-income solutions, reflecting the bank’s disciplined wealth advisory approach.
“The bank has also seen a growing number of its affluent clients diversify a greater share of their savings and investable assets into investment solutions, underscoring increasing confidence in the bank’s advisory capabilities and its ability to protect and grow their wealth through a portfolio-based approach,” it said.
UOB Malaysia country head of Personal Financial Services Elaine Fan said Malaysia's investment culture is evolving rapidly, creating a gap between clients' needs and what traditional banking models typically offer.
“Our focus is on bridging that gap by strengthening relationships with our clients and supporting them with the right advice as they transition towards more diverse, long-term wealth strategies,” she said.
“Our enhanced Privilege Banking proposition is anchored in trusted, advisory-led engagement, underpinned by our strong regional network and investment expertise,” she said.
According to UOB Malaysia, Privilege Banking clients will have access to products including unit trusts, retail bonds, structured investments, foreign exchange, gold, bancassurance, and legacy planning services.
The bank is also expanding non-financial benefits through partnerships in dining, travel, education, and healthcare.
For more information on UOB Malaysia's enhanced Privilege Banking proposition, members of the public may visit www.uob.com.my
-- BERNAMA