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Private banking offers rich pickings for S'pore banks but it's an expensive business

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OCBC Bank in its 2016 first-quarter results said that private banking income grew but was offset by lower insurance sales which led to lower overall wealth management income.

AS economies slow, one business that continues to thrive is private banking. It may be counter-intuitive and while the rich may fret along with the masses over the lousy economy, they have other concerns, like wealth preservation. This instinct especially in uncertain times makes them rich...

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