HSBC's Asia Inflows Dominate Wealth Unit
The pivot to Asia continues at HSBC as the region dominated asset inflows in the bank’s wealth management business.
Invested assets at HSBC’s wealth business grew 7 percent year-on-year to over $1.3 trillion in the first quarter of 2025, according to a presentation of the bank’s financial results.
Asia featured prominently with the region growing its invested assets by $106 billion to $676 billion. The bank also registered $22 billion of net new invested assets in the first three months of the year with $16 billion from Asia. This was in no small part sourced from the 301,000 customers who were new to the bank in Hong Kong.
Income Growth
As a result, fee and other income also grew within the wealth management business by 23 percent to nearly $2.3 billion.
«High levels of client activity in Asia, primarily Hong Kong, drove double-digit growth across Investment Distribution, Private Banking and Insurance,» the bank said in the presentation.
