ReportsnReports.com adds new market research reports on Indonesian Wealth Management Market and Private Banking sector to its store...October 05, 2012
Indonesia has the fastest growing wealth market in the world. Indonesia, with a combined wealth of US$241 billion. The global private banking industry was estimated to have AuM of just over US$16.5 trillion in 2011. The Indonesian wealth management sector accounts for approximately US$16.6 billion of this, which equates to 0.1% of the global total. Private Banks such as Credit Suisse, Julius Baer and UBS have been quick to develop their presence in Indonesia. Indonesia is forecast to grow by 123%, to reach just over 83,500 individuals by 2016. Business interests recorded the strongest growth over the review period, driven by new business formation in the country...Indonesia increased by 67% during the review period (2007–2011)...This research shows that a large proportion of local wealth is currently held offshore, mostly in Singapore-based private banks. Singapore for reasons such as tax avoidance and risk diversification, but also due to higher product sophistication across the straits.
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For the original version on PRWeb visit: http://www.prweb.com/releases/prwebindonesia-wealth/management-hnwi-ultrahnwi/prweb9978502.htm