HSBC’s Private Banking has seen its assets under management rise, partly due to a surge in net new inflows in the first half of the year. The said inflows rose by over US$9 billion between January and June 2021.
A recent data showed that assets under management at HSBC Private Banking, particularly in Asia increased by 25 percent, reaching US$193 billion.
Based on the details of the firm’s recent interim report, this makes up more than 45 percent of HSBC Private Banking’s global total of assets under management, which currently stands at US$427 billion, according to its recent interim report.
Beyond private banking, HSBC also experienced significant growth across other vital segments in Asia – Premier and Jade – with a 7 percent surge in the count of affluent and higher net worth clients to 1.7 million.
Wealth revenues within Asia in the first half of 2021 grew 26 percent, making up most of the growth in global wealth revenue.
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