KUALA LUMPUR (Aug 13): HSBC Bank expects the number of Malaysians holding at least US$250,000 (RM1.18 million) in financial assets to double over the next 10 years, driven by economic growth and wealth accumulation.
HSBC’s head of international wealth and premier banking Asia, Kai Zhang, shared this outlook during the launch of HSBC Bank Malaysia Bhd’s revamped HSBC Premier offering.
The revamped offering targets high-net-worth and affluent clients, providing tailored solutions for wealth management, healthcare, travel, and cross-border banking needs.
“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,” Zhang said at the launch on Wednesday.
Linda Yip, HSBC Malaysia’s country head of international wealth and premier banking, said affluent Malaysians are increasingly seeking holistic solutions that not only accelerate wealth accumulation but also safeguard their health and lifestyle.
Citing HSBC’s Quality of Life report last year, Yip noted that affluent Malaysians allocated the majority of their portfolios (78%) into investments such as bonds and equities, with only 22% in cash.
Lifestyle and health are also strong priorities, as 51% identify vacation or leisure savings as a top financial goal, while 48% view physical and mental health as central to quality of life.
HSBC Premier was first introduced in Malaysia 25 years ago. The upgraded services now covers four key pillars — wealth, health, travel and international banking — to address changing needs in lifestyle and wealth management.
Its wealth offerings now include access to over 350 investment products across unit trusts, bonds and protection plans, alongside fully digital account opening, investment tracking, and insurance analysis.
HSBC Premier’s health benefit offers up to 30% discount on health screening packages through Sunway Healthcare, and complimentary screenings for Premier Elite customers.
Travel privileges include enhanced credit card rewards, six to 12 complimentary airport lounge visits, complimentary travel insurance of up to US$500,000, and global roaming in over 120 countries.
International banking, meanwhile, cover zero-fee global transfers to more than 50 countries, preferential forex rates, and access to 111 currencies via the HSBC Premier account.
The bank, recognised as Malaysia’s Best International Bank by Euromoney, is also offering promotional deposit rates of up to 10.88% per annum for customers who invest or insure, alongside time deposit rates of 4.28% per annum for fresh funds.