BNP Paribas aims high in Asia private banking space

Singapore

BNP Paribas expects to be among the top five private banks in Asia-Pacific in three to five years, spurred mainly by organic growth, said Vincent Lecomte, co-CEO of BNP Paribas Wealth Management on Wednesday.

The ambition would put it in close competition with the two local players DBS and OCBC's Bank of Singapore, according to recent rankings of private-banking assets held by these banks in Asia. This also comes as Deutsche Bank Wealth Management likewise has plans to be among the top five players in the region, it said this month.