There are reports that a major Thai commercial bank is in the final stages of negotiations to acquire the wealth management business from a foreign financial institution, with an announcement expected within this week. However, there has been no official confirmation regarding the acquisition talks, including the name of the buying bank, the transaction value, or details of the assets or client base to be transferred. The target business is DBS Wealth, a unit of DBS Vickers (Thailand) or DBSVT, which primarily serves High Net Worth and Ultra High Net Worth clients. Sources indicate that this deal would allow the acquiring bank to immediately expand its client base and assets under management. DBS has approximately 100 billion baht in AUM in Thailand and had previously targeted 300 billion baht by 2026, but these figures are not the transaction value and may not represent all assets to be transferred, depending on the transaction structure and client decisions. Competition in Thailand's wealth management sector is intensifying, with the market's AUM valued at approximately 19.3 trillion baht in 2026 and expected to grow to 22 trillion baht by 2028.
