Private banks' strong finish to 2019 sets base to push into new year

Singapore

STRONG asset markets and portfolio management services, coupled with products that promise higher yields, have helped to boost net inflows for private banks in 2019, providing a strong base to push into 2020.

The year has turned out to be a record year in terms of inflows and assets under management (AUM) for most private banks. The data they furnish is up to end-September.