KUALA LUMPUR (June 18): United Overseas Bank expects its affluent customer base in Malaysia to double by 2028, as the Singapore-based financial institution improves its wealth offerings and perks.

“Malaysia’s investment culture is evolving rapidly, and there remains a clear gap between what clients need and what traditional banking models typically offer,” said Elaine Fan, head of personal financial services at UOB Malaysia.

The focus is on bridging the gap by strengthening relationships and supporting clients transitioning towards more diverse, long-term wealth strategies, she said.

While the affluent and emerging high-net-worth segment is expanding rapidly in Malaysia, the market remains underserved in terms of advisory access and support, UOB said, citing findings from Boston Consulting Group’s Global Wealth Report 2026.

A significant share of wealth is still concentrated in deposits reflecting limited access to advisory-led investment solutions. Still, the bank saw a strong momentum in its affluent wealth business in Malaysia, with invested asset under management growing 30% since 2024.

To support the growing demand, UOB Malaysia is boosting its Privilege Banking proposition on three pillars: wealth advisory supported by expert insights, guidance through a single point of contact, and priority access to lifestyle and health privileges.

Through regular portfolio reviews, clients get access to in-depth insights from the regional private bank’s chief investment office to help them navigate global developments and market trends in shaping their investment decisions.

Privilege Banking clients receive personal advisory, guidance and servicing support from a single dedicated client advisor, backed by a team of specialists across investments, treasury, insurance and mortgages.

Beyond wealth advisory, clients will enjoy dining, entertainment, and healthcare perks through the bank’s global partnership with Michelin Guide, Rondo Production, and Sunway Healthcare Holdings Bhd.