Latest news with #PremierBanking
Free Malaysia Today
6 days ago
- Business
- Free Malaysia Today
Number of Malaysians with at least RM1.2mil to double over 10 years, says HSBC
HSBC Bank said affluent Malaysians are increasingly seeking investment solutions that not only accelerate wealth accumulation but also safeguard their health and lifestyle. (Reuters pic) PETALING JAYA : HSBC Bank expects the number of Malaysians with at least US$250,000 (RM1.18 million) in assets to double over the next 10 years. HSBC's head of international wealth and premier banking Asia, Kai Zhang, said Malaysia's growing economy is creating more opportunities to build and sustain wealth. 'We estimate that the percentage of adults in Malaysia with at least US$250,000 in financial wealth will double over the next decade,' she said in a statement to mark the launch of HSBC Bank Malaysia Bhd's revamped HSBC Premier for its affluent and high-net-worth customers today. Linda Yip, HSBC Malaysia's country head of international wealth and premier banking, said affluent Malaysians are increasingly seeking investment solutions that not only accelerate wealth accumulation but also safeguard their health and lifestyle. In 2023, a report from property consultancy Knight Frank stated that the number of Malaysians with at least US$1 million (RM4.6 million) in wealth will nearly double from over 85,000 in 2022 to more than 164,000 in 2027.
Malay Mail
6 days ago
- Business
- Malay Mail
Malaysia's US$250,000-plus club to double in size over next decade, says HSBC
KUALA LUMPUR, Aug 13 — HSBC Bank expects the number of Malaysians with at least US$250,000 (RM1.18 million) in financial assets to double in the next 10 years, underpinned by sustained economic growth and rising affluence, business publication The Edge reported today. Kai Zhang, HSBC's head of international wealth and premier banking Asia, said Malaysia's expanding economy was creating significant opportunities for wealth accumulation. 'As the Malaysian economy grows, so does the opportunity to build and sustain wealth. We estimate that the percentage of adults in Malaysia with at least US$250,000 in financial wealth will double over the next decade,' he said at the launch of HSBC Bank Malaysia Bhd's upgraded HSBC Premier service. The refreshed HSBC Premier package, first introduced in Malaysia 25 years ago, now focuses on four pillars — wealth, health, travel, and international banking — aimed at high-net-worth and affluent customers. HSBC Malaysia's country head of international wealth and premier banking, Linda Yip, noted that wealthy Malaysians were seeking 'holistic solutions' that balance wealth growth with lifestyle and health needs. She cited HSBC's 2023 Quality of Life report, which found affluent Malaysians placed 78 per cent of their portfolios in investments such as bonds and equities, with 22 per cent in cash. Over half (51 per cent) prioritised saving for leisure or vacations, while 48 per cent viewed physical and mental health as central to quality of life, she added. The bank's wealth services now offer access to more than 350 investment products across unit trusts, bonds, and protection plans, supported by digital tools for account opening, investment tracking, and insurance analysis. Health benefits include up to 30% discounts on screenings via Sunway Healthcare, and complimentary screenings for Premier Elite clients. Travel perks range from enhanced credit card rewards and up to 12 free airport lounge visits, to travel insurance worth US$500,000 and roaming in over 120 countries. International banking privileges feature zero-fee global transfers to more than 50 countries, preferential forex rates, and access to 111 currencies. HSBC, named Malaysia's Best International Bank by Euromoney, is also offering promotional deposit rates of up to 10.88 per cent per annum for clients who invest or insure, and time deposit rates of 4.28 per cent per annum for fresh funds, The Edge said.
South China Morning Post
05-06-2025
- Business
- South China Morning Post
OCBC Premier Banking celebrates strong business growth, credits ‘twin-hub' strategy
Driven by strong demand for wealth management and insurance solutions in Asia, OCBC posted record financial results for the third year in a row. The Singapore-based bank reported a net profit of S$7.6 billion (US$5.9 billion) for its 2024 financial year, and total income rose by 7 per cent to S$14.5 billion. Within the year, OCBC Premier Banking realised double-digit growth in new-to-bank customers and assets under management, while its mainland China customer base also increased twofold during the same period. The bank attributes its success to the 'twin-hub' approach, which leverages the bank's positions in Singapore and Hong Kong to run operations across Asean (Association of Southeast Asian Nations). 'The financial hubs of Singapore and Hong Kong offer unique advantages for customers looking to expand into Asean countries and vice versa,' says Sunny Quek, OCBC's head of Global Consumer Financial Services. 'Through the twin-hub proposition, OCBC Premier Banking is strategically positioned to serve the region's affluent investors. We provide them with a dedicated team of specialists and relationship managers, along with a comprehensive range of banking services and wealth management solutions in Asia.' Linda Chung (second right) and Nick Cheuk (second left) with (from left) Alan Chan, Stephen Leung, Wang Ke, Sunny Quek, Josephine Lee and Michelle Chiu at the launch ceremony for the new commercial campaign. To mark OCBC Premier Banking's strong business growth, the bank's Consumer Financial Services division held twin celebrations in Hong Kong last month. It launched a commercial campaign featuring Chinese-Canadian actress and singer Linda Chung, the newly appointed brand ambassador. In addition, and timed to coincide with celebrations for the city's annual Dragon Boat Festival, OCBC executives from Singapore and Hong Kong sailed across Victoria Harbour on the Dukling, a traditional Chinese junk and a much-loved part of the city's history. The choice of the vessel is significant for OCBC. Since 1932, a Chinese sailing ship has been at the heart of its logo, representing the resilient, entrepreneurial spirit of the bank as it ventured into Asean to build the financial infrastructure that has helped power the region's economy and benefited generations. 'That spirit is still anchored in our core values,' Quek says, adding that to meet the emerging needs of offshore customers, the bank will further enhance its regional premier services with seamless regional banking connectivity, cross-border remittance solutions and access to exclusive healthcare, education and lifestyle privileges. Meaning of time To showcase the bank's twin-hub strategy, its consumer financial services division unveiled a new commercial campaign 'Give Time Greater Meaning' at Hong Kong's Island Shangri-La hotel. In a show of support for the local film industry, the commercial was directed by award-winning Hong Kong director Nick Cheuk. The segment features brand ambassador Linda Chung and her daughter, Kelly Leung, highlighting OCBC's premier banking and wealth management services.
