HSBC Bank expects the number of Malaysians holding at least US$250,000 (approximately RM1.18 million) in financial assets to double over the next decade. The projection is driven by continued economic growth and rising personal wealth.

The outlook was shared by Kai Zhang, HSBC’s Head of International Wealth and Premier Banking Asia, during the launch of HSBC Bank Malaysia Bhd’s enhanced HSBC Premier offering.

Revamped HSBC Premier Targets Affluent and High-Net-Worth Clients

The updated HSBC Premier is designed for affluent and high-net-worth clients, offering tailored solutions in wealth management, healthcare, travel, and cross-border banking.

“As the Malaysian economy grows, so does the opportunity to build and sustain wealth. We estimate that the percentage of adults in Malaysia with at least US$250,000 in financial wealth will double over the next decade,” Zhang said at the launch.

Linda Yip, HSBC Malaysia’s Country Head of International Wealth and Premier Banking, said affluent Malaysians are increasingly seeking comprehensive solutions that help them grow their wealth while safeguarding their health and lifestyle.

Investment Trends Among Affluent Malaysians

According to HSBC’s 2024 Quality of Life report, affluent Malaysians place the majority of their portfolios in investments. About 78% of their financial wealth is allocated to instruments such as bonds and equities, while 22% is held in cash.

The same report found that lifestyle and health are key priorities. Around 51% of respondents identified saving for vacations or leisure as a top financial goal, while 48% considered physical and mental health central to their quality of life.

Four Key Pillars of the Upgraded HSBC Premier

First introduced in Malaysia 25 years ago, HSBC Premier now focuses on four main pillars to meet evolving client needs: wealth, health, travel, and international banking. Customers can now access more than 350 investment products, including unit trusts, bonds, and protection plans, supported by fully digital services for account opening, investment tracking, and insurance analysis.

On healthcare, Premier customers enjoy up to 30% discounts on health screening packages through Sunway Healthcare, with Premier Elite customers receiving complimentary screenings.

Travel benefits include enhanced credit card rewards, six to 12 complimentary airport lounge visits, travel insurance coverage of up to US$500,000, and global roaming in over 120 countries. For international banking, customers can make zero-fee global transfers to more than 50 countries, enjoy preferential foreign exchange rates, and access 111 currencies through the HSBC Premier account.

Promotional Rates for Eligible Customers

HSBC is also offering promotional deposit rates of up to 10.88% per annum for customers who invest or take up insurance products. Fresh fund time deposits are available at 4.28% per annum. As always: Terms and Conditions Apply!

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• TAGS:
• Affluent
• Financial Assets
• High Net Worth Clients
• HSBC
• HSBC Premier
• Quality of Life