In 3Q23, Singapore’s ‘big three’ local private banks, DBS, Bank of Singapore and UOB, reported a recovery in their wealth management businesses, according to their recent earnings reports. Bank of Singapore OCBC Bank’s private banking arm, Bank of Singapore, reported an increase in wealth management income of 16% in 3Q23 YoY, reaching S$1,119 million (US$822 million). However, on a quarterly…
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