DBS Group’s retail and wealth business has been accelerating income generation since 2013. However, the bank continues to face an uphill struggle with some of its overseas retail markets.

Hong Kong’s economy remains sound but the Hong Kong Monetary Authority is tamping down property loans and issuance of long-term personal loans. With the stricter regulations, the challenge for Hong Kong banks is not asset quality but pricing.

From 2019 to 2023, the share of consumer finance relative to total retail lending declined in Hong Kong and South Korea, but increased significantly in the Philippines.