Maybank Singapore woos near-retirees to grow
Older customers are stickier and may be less inclined to make the switch to digital banks, making this segment less competitive. BY NATALIE CHOY
Add BT as a preferred source
Singapore
AS THE Republic's new digital banks gear up to woo younger, tech-savvy consumers in 2022, Maybank Singapore finds itself on the other end of the spectrum: ramping up wealth services for the silver generation.
The lender already has an advantage in this segment, with "disproportionately more" market share of near-retirees and retirees, its Singapore chief executive John Lee told The Business Times.
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank
About 1 in 7 Singapore families has income of at least S$30k a month; share almost doubled in 5 years
Indonesia jails Gojek founder Nadiem for 10 years, orders US$48 million restitution
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
