DBS Bank has recorded a near-tripling in the number of millennial retail customers upgrading to its DBS Treasures wealth tier in the first half of 2026 compared with the same period last year. The bank is now expanding its wealth centre network and relationship manager headcount in Singapore to keep pace with the shift.
Key Facts At A Glance
- Millennial retail customers moving to DBS Treasures rose nearly threefold (about 300%) year-on-year in the first half of 2026
- Total DBS retail customers progressing to Treasures increased 180% year-on-year over the same period
- Investment balances of clients who joined Treasures in 2025 have grown nearly sixfold since onboarding
- Seven in ten clients who progressed to Treasures in the first half of 2026 first banked with DBS as retail customers
- DBS plans to hire more than 600 additional relationship managers, frontline advisors and platform engineers by end-2028
- The bank will open 18 new wealth centres and upgrade 36 existing ones region-wide by end-2027
- DBS Treasures’ Singapore wealth centre footprint is set to expand by 50%
- AI-enabled tools have cut onboarding turnaround time for new-to-bank wealth clients by roughly 50%
Younger Clients Are Starting Earlier
DBS attributes the jump in millennial uptake to customers in their 30s and early 40s seeking wealth advice and beginning to invest earlier than prior generations, citing longer lifespans and growing financial commitments as drivers. The bank said the trend was not confined to first-time investors: seven in ten clients who progressed to Treasures in the first half of 2026 had already been DBS retail customers before moving up, pointing to an internal upgrade pipeline rather than external client acquisition as the primary growth channel.
Investment Engagement Deepens Over Time
Beyond the growth in new Treasures clients, DBS reported that investment balances belonging to customers who joined the tier in 2025 have expanded nearly sixfold in the time since. The bank frames this as evidence that clients who move into DBS Treasures tend to increase their investment activity substantially after the transition, rather than treating the upgrade as a one-time balance threshold.
Bank Expands Physical And AI Infrastructure
To support the growth, DBS is expanding its wealth infrastructure on two fronts. On the physical side, the bank will increase its Singapore DBS Treasures wealth centre footprint by 50%, alongside a region-wide plan to open 18 new centres and upgrade 36 existing ones by the end of 2027. These centres are positioned as spaces for portfolio reviews and long-term planning conversations rather than transactional banking. On the staffing side, DBS plans to add more than 600 relationship managers, frontline advisors and platform engineers by the end of 2028. The bank also said AI-enabled tools are already reducing administrative workload for relationship managers and have cut onboarding turnaround time for new wealth clients by about half, freeing up capacity for client-facing work.