14 Jun '11, 12am

IM$avvy Headlines: Asia’s private banks can’t bank on margins #banking #news

'Costs haven't come down but revenues have come off ... Everyone faces this question: how do I make this business more profitable?' - Boston Consulting Group director Tjun Tang (SINGAPORE) Private banking in Asia used to sit in a sweet spot - rich margins coupled with rising assets under management. Now that may be just half-true. While AUMs are still rising, profit margins are under pressure and stiff competition suggests that the pressure is unlikely to lighten anytime soon. Profit margins for 2010 stood at about 19 per cent for Asia Pacific institutions - unchanged from 2009. But they have actually plunged from a pre-crisis high of 40 per cent, says Boston Consulting Group (BCG) director Tjun Tang. For 2010, Asian margins were significantly lower than global average margins of 26 per cent. The region's AUMs rose 17 per cent to US$21.7 trillion. The growth rate was more ...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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