Credit Suisse
Credit Suisse reckons Malaysian wealth is generally ’under-appreciated’ by its peers, though the bank clearly believes it is the exception to that apparent maxim.
Indeed, it has proved adept at identifying Malaysia’s ultra-high net-worth individuals in the face of renewed local competition from Singapore’s DBS, which has been on an acquisition spree in the region, and from Deutsche Bank and UBS, its traditional foreign-owned competitors.
As regulators tighten rules and practices in the sector, in part a response to the 1MDB scandal, CS says it continues to grow its client base, who are lured by the bank’s healthy compound annual return of 10% since 2011. It has also been adding Shariah-compliant products to its services, as that segments continues to grow in KL.