Premium Banking Services Tracker H1 2024
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Premium Banking Services H1 2024 Report Overview
Premium banking markets vary across the world. For example, the UK and the US tend to have more basic offerings in terms of product range compared to banks in Asia-Pacific. Consumers in the former markets prefer to have their wealth managed by professional wealth managers, meaning services offered by premium banking providers are not much different from regular retail banks. Meanwhile, banks in the UAE provide a wide range of Sharia-compliant products and services to expand their customer bases.
The ‘Premium Banking Services Tracker H1 2024’ report tracks the products and services offered by different premium banking brands in five markets: the US, the UK, the UAE, Hong Kong (China SAR), and Singapore. Eight different categories of products and services are studied for each bank, with scores issued based on the comprehensiveness of their offerings. In addition, banks in each market are ranked to identify the leaders and laggards.
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Key Countries | · Hong Kong (China SAR)
· Singapore · The UAE · The UK · The US |
Leading Players | · HSBC
· Hang Seng Bank Prestige Banking · Citigold · Standard Chartered Priority Banking · CIMB · DBS Treasures · OCBC Premier Banking · UOB Privilege Banking |
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Premium Banking Services by Countries
The report covers premium banking services provided in Hong Kong (China SAR), Singapore, the UAE, the UK, and the US.
Hong Kong: A significant percentage of mass affluent investors in Hong Kong book some proportion of their wealth abroad, which puts wealth managers with offshore capabilities at an advantage. Investment platforms at the main banks provide Hong Kong’s mass affluents with a wide range of options and are convenient as well. Hence, it is the preferred investment channel among them. As the largest bank in Hong Kong, HSBC offers the most comprehensive products and international reach. A few of the other banks with services in Hong Kong are Hang Seng Bank Prestige Banking, Citigold, and Standard Chartered Priority Banking. Most banks offer multiple currency services for savings and term deposits.
Singapore: Mass affluent investors in Singapore use diversified channels to seek investment advice to meet their complex needs. Return on investment is the most important driver for these clients to seek out the services of an advisor. As a result, investment advisors at their main bank, investment platforms at their main bank, and independent financial advisors are the most popular investment channels for mass affluent individuals. CIMB puts out the widest range of products to compete with the major local banks. A few of the other banks with services in Singapore are DBS Treasures, OCBC Premier Banking, and UOB Privilege Banking. Most Singaporean banks offer multiple currency services for savings and term deposits.
Premium Banking Services Analysis by Countries, H1 2024 (%)
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Scope
There are more premium banking providers competing in Hong Kong (China SAR) and Singapore compared to the UK and the US.
Product and service options are also much wider in Asia-Pacific, with stronger referral programs compared to Western nations.
Key Highlights
- More premium banking providers are competing in Hong Kong (China SAR) and Singapore compared to the UK and the US.
- Product and service options are also much wider in Asia-Pacific, with stronger referral programs compared to Western nations.
Reasons to Buy
- Identify the products and services offered by the major premium banking providers in each of the markets covered by this report.
- Follow half-yearly changes to promotions and services offered by the tracked banks.
Standard Chartered
Citibank
Citigold
OCBC
DBS
Hang Seng
Bank of China
Bank of East Asia
CIMB
Maybank
Emirates NDB
Abu Dhabi Islamic Bank
Abu Dhabi Commercial Bank
Dubai Islamic Bank
First Abu Dhabi Bank
Lloyds Bank
NatWest Bank
Barclays
Santander
Chase
Wells Fargo
Table of Contents
Frequently asked questions
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Which markets with premium banking services are included in the report?
The report covers premium banking services provided in Hong Kong (China SAR), Singapore, the UAE, the UK, and the US.
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Which are the top banks with premium services in Hong Kong?
A few of the banks with premium services in Hong Kong are HSBC, Hang Seng Bank Prestige Banking, Citigold, and Standard Chartered Priority Banking.
-
Which are the top banks with premium services in Singapore?
A few of the banks with premium services in Singapore are CIMB, DBS Treasures, OCBC Premier Banking, and UOB Privilege Banking.
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