Taiwan’s wealth management AUM passes US$80bn
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.
At the forefront of this growth are First Bank Taiwan, which grew its AUM by 58%, while Taishin Bank and Taipei Fubon Bank grew their AUM by 35% and 30%, respectively.
Growing wealth planning needs
Taiwan’s banks are catering to the growing needs for wealth planning and wealth transfer services from their clients, amplified by the country’s ageing population and low fertility rates.
Cathay United Bank has been using trusts as a medium, packaging financial products with services offered by partners to address clients’ lifestyle needs, while introducing solutions ranging from children’s financial protection to retirement and wealth transfer.
This is also seen at Taipei Fubon Bank, which has been offering nursing trust solutions for elderly clients and clients with physical and mental disabilities in 2024. The bank also developed trust solutions to address clients’ education, retirement planning, and wealth transfer needs in the same year.
As for Taishin Bank, the bank launched its Wealth Management Family Membership Programme in 2024, expanding the scope of wealth management from individual clients to family units. The bank provides clients with customised financial advice for various stages of a family’s financial journey, while offering membership benefits to address clients’ asset needs.
Increasingly demanding investment needs
As clients in Taiwan become increasingly sophisticated, Taiwan’s private banks have been introducing new products to address their investment needs.
In 2024, Taiwan Cooperative Bank provided clients foreign-currency-denominated structured bonds and personalised dual-currency investments, while boosting the range and flexibility of financial products and portfolio management services offered.
At E.Sun Bank, in addition to providing clients with a suite of products in domestic and foreign currencies, the bank has been leveraging its infrastructure in various regions, including Hong Kong and Singapore, to expand its product offerings and offer a one-stop cross-border service model for clients.
As for Taipei Fubon Bank, the bank leveraged internal resources from the group and subsidiaries to form strategic collaborations, giving clients access to localised solutions while responding to global volatilities.
Read more about Taiwan’s private banking and wealth management market with these related articles from APB
Methodology
Some banks publicly state their regional AUM totals, others don’t. Therefore, the datasets presented here contain a mix of estimates, shared, and reported figures. We also recognise that banks are inconsistent in the way they count AUM. And their minimum investment requirements can range widely, starting from as little as US$33,000 and going up to as high as US$3.3 million.
Totals may include assets under custody and/or loans, and may be distorted by double-counting. Where possible, we footnote for or provide some guidance on these variables. However, in the absence of enforced or agreed-upon standardisation and transparency, these inconsistencies will continue to undermine our ability to directly compare banks’ AUM.
Mid-market rates used as at 31 Dec 2024 for their respective years for non-USD reporting. For 2024: TWD-USD 0.030490
