Thailand
Thailand’s domestic private banks and wealth managers saw a 9% growth in their total AUM to US$176 billion, while international banks in the country saw a 9% growth in total AUM to US$6 billion. Growth of domestic banks picked up from 2023’s 6%, while that of the international banks slowed from the previous year’s 35%.
According to APB Insights’ 2024 Thailand Private Banking & Wealth Management AUM League Tables, all players experienced growth in AUM, with an average growth rate of 9% for local players and 12% for international players.
Reflecting on their growth stories, Thai banks highlighted collaboration efforts and international diversification strategies as key drivers.
Taiwan
Taiwan’s private banks and wealth managers saw a 7.8% growth in their total AUM to US$159 billion. Despite the country’s chip boom, growth slowed from 19% growth in 2023.
According to APB Insights’ 2024 Taiwan Private Banking & Wealth Management AUM League Tables, banks experienced an average growth rate of 15%.
Taiwanese banks attributed their growth to increasing wealth transfer and planning needs, along with the launch of new products.
Philippines
Filipino private banks and wealth managers experienced a 23% growth in their total AUM, reaching US$72 billion, up from US$58 billion in 2023. This growth rate dipped slightly from 2023’s 26% growth, as the country saw uncertainties and geopolitical tensions buffeting both global and local markets but increased wealth management needs from a new generation of clients.
According to APB Insights’ 2024 Philippines Private Banking & Wealth Management AUM League Tables, all eight players obtained double-digit growth in their AUM, with an average growth rate of 22% per bank.
Dissecting their growth story, the banks pointed to expanded product shelves and increased digitalisation efforts, with underlying wealth transfer trends.
Malaysia
Malaysia’s private banks and wealth managers experienced a 13% growth in their total AUM, reaching US$91 billion in 2024. This growth rate is nearly identical to that of 2023.
According to APB Insights’ 2024 Malaysia Private Banking & Wealth Management AUM League Tables, all players experienced AUM growth, with an average growth rate of 15% per bank.
Looking back at their growth story, banks highlighted their talent strategies and product launches during the year.
Indonesia
Indonesia’s private banks and wealth managers saw a 15% growth in their total AUM to US$77 billion. While growth slowed from 2023’s 22%, the country benefited from increasing domestic demands and steady foreign and domestic direct investment, tempered by global market volatility and geopolitical uncertainties.
According to APB Insights’ 2024 Indonesia Private Banking & Wealth Management AUM League Tables, almost all players experienced growth in AUM, with an average growth rate of 9% per bank.
Explaining their growth, Indonesian banks pointed to digital enhancements as well as increased partnerships.
