HSBC achieves record growth in Asian wealth business

In 1H21, the bank's Asian wealth balances soared, concurrent with improved digital capabilities and new sustainable offerings that aim to cater to Asian client demand.

HSBC announced yesterday 09 August that its Asian wealth business has delivered “robust growth” in the first half of 2021, with balances in the region achieving a record high, totalling $810 billion and accounting for 49% of the bank’s global activity in the wealth sector.

The note issued to the media detailed a 7% year-on-year increase in affluent and high net worth client numbers, with Asian wealth revenues for the period increasing 26% year-on-year, responsible for much of the 30% rise in global wealth revenue for the same period.

Greg Hingston, regional head of Wealth and Personal Banking for Asia Pacific cited investment in technology, products and...

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