Private Banking Market Size, Share, and Industry Analysis, By Type (Asset Management Services, Insurance Services, Trust Services, Tax Consulting, and Real Estate Consulting), By Investment Style (Discretionary, Non-discretionary, and Advisory), and By Application (Personal and Enterprise), and Regional Forecast, 2025-2032

Region : Global | Report ID: FBI114441 | Status : Ongoing

private banking market Overview

The global private banking market is experiencing tremendous growth attributed to the rise in the number of bank offices, and rising disposable income of the population, which in turn, is driving demand for private banking across enterprises as well as personal level, to drive the growth of the market.

For instance, according to the source of CareEdge, the private sector banks' growth increased by 13.5% in 2025 as compared to 2024.

Private Banking Market Driver

Rising Demand for Personalized Wealth Management Services to Boost Market

An increasing wealth generation from high net worth individuals, which requires successful wealth planning, and rising wealth generation from technical entrepreneurs, which is enhancing the demand for private banking solutions across the globe. Also, growing demand for hyper-personalized investment and rising preference for holistic wealth management, which requires effective finance solutions such as private banking, drive the market growth.

For instance, according to the Capgemini Report, the global High Net Worth increased by 4.7% from 2023 to 2024.

Private Banking Market Restraint

Rising Foreign Exchange Rates to Restrict Market Growth

An increasing foreign exchange rate by 15-30% in banking operations, and foreign exchange revenue dropped in terms of interest rates, with tight interest rate policies. Moreover, fluctuations in foreign exchange rates introduce risks and uncertainty in banking operations, and assist HNWI and ultra-high net worth individuals to adopt more conservative investment strategies, which incur more interest charges to restrict the market growth.

Private Banking Market Opportunity

Rising Demand for Private Credit Investments to Provide Lucrative Opportunities for Market Growth

The increasing need for private credit investment options is driving a lucrative growth pattern for the private banking market. HNWIs and institutions are seeking additional portfolio options and diversification with alternatives, and private banks can fulfill the demand.

The growing need for wealth management solutions is accelerating growth in the private banking industry. As individuals and families accumulate wealth, the demand for sophisticated, personalized financial services increases. Due to private banks are able to deliver customized investment strategies, tax planning, wealth transfer, and estate management services, they provide an opportunity for market growth.

For instance, in September 2023, Deutsche Bank initiated Deutsche Bank Investment Partners (DBIP)—an investment manager that offers institutional and high-net-worth clients access to private credit investment options. Financial institutions are continuing to capture the desire for unique investment opportunities, thus stimulating growth within the industry.

Key Insights

The report covers the following key insights:

Micro and Macro Economic Indicators
Drivers, Restraints, Trends, and Opportunities
Business Strategies Adopted by the Key Players
Impact of Tariffs on the Global Private Banking Market
Consolidated SWOT Analysis of Key Players

Segmentation

By Type	By Investment Style	By Application	By Region
Asset Management Services Insurance Services Trust Services Tax Consulting Real Estate Consulting	Discretionary Non-discretionary	Advisory Personal Enterprise	North America (U.S., Canada, and Mexico) Europe (U.K., Germany, France, Spain, Italy, Russia, Benelux, Nordics, and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, ASEAN, Oceania, and Rest of Asia Pacific) Middle East & Africa (Turkey, Israel, GCC, South Africa, North Africa, and Rest of Middle East & Africa) South America (Brazil, Argentina, and Rest of South America)

Analysis by Type

Based on type, the market is divided into asset management services, insurance services, trust services, tax consulting, and real estate consulting.

The asset management services are expected to grow at a high rate, due to rising demand for diversification services and providing opportunities, including fixed income, equities, and real estate investments, which drive the market growth.

Analysis by Investment Style

By investment style, the market is divided into discretionary, non-discretionary, and advisory.

The discretionary style is projected to dominate the market owing to factors such as discretionary style is largely adopted in giant private banks such as UBS, Credit Suisse, and JPMorgan. It offers features such as being able to solve complexity in finance operations, and is attractive to end users.

Analysis by Application

Based on the application, the market is divided into personal and enterprise.

The personal end user is projected to dominate the market owing to factors such as the large adoption of private banking services from high-net-worth individuals across the globe. Also, it found application in underserved areas and financial institutes, driving the market growth.

For instance, in July 2023, HSBC launched its global private banking services aimed at Ultra-High-Net-Worth (UHNW) & High-Net-Worth (HNW) professionals, entrepreneurs, and their families in India. This service is targeted toward clients with investable assets of more than USD 2 million.

Regional Analysis

By region, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

North America is expected to grow at the highest rate owing to the rising concentration rate of HNWI in the U.S. and Canada, which rise in the need for private banking services. Also, increasing a substantial number of affluent clients with significant financial assets, which fuels the demand for such services, bolsters the market growth.

According to Capgemini Stats, the HNWI population in North America increased by 13.8% in 2023 as compared to 13.2% in 2022.

Asia Pacific is anticipated to grow at the highest rate owing to factors such as rising penetration of discretionary services and increasing trust in professional management services, which to drive the market growth.

Key Players Covered

The global private banking market is fragmented with the presence of a large number of group and standalone providers. The top 10 players contributed around 40% to 45% shares in the global market.

The report includes the profiles of the following key players:

Bank of America (U.S.)
HDFC Bank (India)
BNP Paribas (France)
Citigroup (U.S.)
Goldman Sachs (U.S.)
HSBC (U.K.)
J.P. Morgan Private Bank (U.S.)
Morgan Stanley (U.S.)
Goldman Sachs Group PLC (U.S.)
Delen Private Bank NV (Belgium)

Key Industry Developments

In September 2023, Delen Private Bank NV, based in Belgium, acquired Groenstate Vermogensbeheer NV. The main aim of the acquisition was to improve the wealth management and financial planning solution across the Dutch market.
In December 2022, HDFC Bank announced that it planned to merger with Housing Development Finance Corporation. The basic aim of a merger is to improve the service portfolio for private banking and asset management services.