Insight

Reference

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Supporting source

Top wealth manager AUM share (2024)

SCB, KBank, BBL dominant

As ofEnd-2024·Sources1·Supporting·Historical series (5 points)

SCB Wealth Management leads Thailand's onshore HNW AUM at roughly THB 1.6 trillion (~USD 45 billion) per the bank's 2024 disclosures, followed by KAsset Wealth (Kasikornbank, ~THB 1.5T), Bualuang Securities/BBL Private Banking, Phatra Wealth Management (KKP Financial Group), and the cluster of foreign and boutique platforms (UBS, Julius Baer onshore via SCB, Lombard Odier). The combined onshore market totals roughly THB 6.0-6.5 trillion. Offshore-booked Thai wealth (Singapore Wealth Centre booking, Hong Kong booking) is estimated at an additional USD 60-80 billion outside this onshore total.

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Figure in context

SCB Wealth Management leads Thailand's onshore HNW AUM at roughly THB 1.6 trillion (~USD 45 billion) per the bank's 2024 disclosures, followed by KAsset Wealth (Kasikornbank, ~THB 1.5T), Bualuang Securities/BBL Private Banking, Phatra Wealth Management (KKP Financial Group), and the cluster of foreign and boutique platforms (UBS, Julius Baer onshore via SCB, Lombard Odier). The combined onshore market totals roughly THB 6.0-6.5 trillion. Offshore-booked Thai wealth (Singapore Wealth Centre booking, Hong Kong booking) is estimated at an additional USD 60-80 billion outside this onshore total.

Interpretation notes

What this tells you

SCB Wealth Management leads Thailand's onshore HNW AUM at roughly THB 1.6 trillion (~USD 45 billion) per the bank's 2024 disclosures, followed by KAsset Wealth (Kasikornbank, ~THB 1.5T), Bualuang Securities/BBL Private Banking, Phatra Wealth Management (KKP Financial Group), and the cluster of foreign and boutique platforms (UBS, Julius Baer onshore via SCB, Lombard Odier). The combined onshore market totals roughly THB 6.0-6.5 trillion. Offshore-booked Thai wealth (Singapore Wealth Centre booking, Hong Kong booking) is estimated at an additional USD 60-80 billion outside this onshore total.

What not to do with it

Use the linked report for interpretation and keep basis differences explicit.

Related figures

Adjacent numbers that add context without drowning the value.

2020-2024 (Asian Private Banker AUM series)
~USD 176B (2024)

Thailand HNW wealth management AUM (2020-2024)

Asian Private Banker Thailand AUM league table; Thai SEC Private Fund report; Hubbis Thailand Wealth Management Forum 2024-2025

End-2024 estimate
~155,000 households

Thailand HNW household count

Capgemini World Wealth Report; KBank Private Banking client disclosures; Hubbis Thailand market overview; National Statistical Office household income survey

End-2024 estimate
~10,000-11,000

Thailand UHNW individual count

Wealth-X World Ultra Wealth Report; Knight Frank Wealth Report Asia; Hubbis Thailand Wealth Management Forum disclosures

September 2022 to mid-2025 (cumulative)
~4,500 cumulative

BOI LTR Wealthy Global Citizen visa approvals (2022-2025)

Thailand Board of Investment LTR Visa quarterly statistics; LTR Visa Centre disclosures; Bangkok Post visa coverage

End-2024
~THB 1.5T (2024)

Kasikorn Asset Management AUM

Kasikornbank annual report; KAsset

Effective for tax year 2024 onward
Effective 1 Jan 2024

Por.161/2566 offshore income tax remittance rule impact

Revenue Department of Thailand Order Por.161/2566; Mazars Thailand tax advisory; Bangkok Post tax coverage

Report context

Thailand Wealth Management & Private Banking Market Intelligence

Thailand's wealth-management and private-banking sector reached approximately USD 176B in domestic-bank AUM and USD 6B in foreign-private-bank AUM by end-2024 (Asian Private Banker league tables), serving an estimated 150,000+ HNW households (USD 1M+) and roughly 10,000+ UHNW households (USD 30M+). SCB WEALTH (with SCB Julius Baer JV) and KBank Private Banking (with Lombard Odier sustainability alliance and JPMorgan Asset Management multi-asset partnership) anchor the Thai-domestic field; Bualuang Exclusive (BBL), Krungsri Exclusive (BAY/MUFG), KTB Private Wealth, Kiatnakin Phatra, and Tisco round out the listed operators. Foreign private banks (UBS, Standard Chartered, Citi, HSBC, JPMorgan, BNP Paribas) maintain Bangkok representative presence for cross-border ultra-HNW booking. Two regulatory shifts dominate 2024-2026: the January 2024 foreign-sourced-income remittance tax (Revenue Department Order Por. 161/2566) and the BOI LTR visa (9,700+ approvals since 2022) which together reshape inbound HNW relocation economics. Report excludes retail mutual-fund asset management — that sits in a separate AUM track (~THB 5.4T total industry).

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Atlas actors in this figure's reports

Profiles covered in the report that cite this number.

Bualuang Exclusive (Bangkok Bank)

Wealth management division of Bangkok Bank (SET: BBL); Thailand's oldest commercial bank's private-banking service for high-net-worth clients.

KBank Private Banking (KasikornBank)

Private banking arm of KasikornBank (SET: KBANK); provides bespoke wealth management to Thailand's ultra-high-net-worth clients with AUM exceeding THB 1 trillion.

Kiatnakin Phatra Bank

Listed commercial bank; investment banking, capital markets specialist post-2021 Phatra merger; ~THB 25-28B FY2024 revenue.

Krungsri Exclusive (Bank of Ayudhya)

Wealth management arm of Bank of Ayudhya (Krungsri, SET: BAY); MUFG-backed private banking and investment advisory for Thailand's affluent segment.

Krungthai Bank Private Wealth (KTB)

Private wealth division of Krungthai Bank (SET: KTB); the state-owned bank's offering for high-net-worth clients alongside its flagship Pao Tang digital platform.

SCB Wealth Management (SCBX)

Wealth management arm of SCBX operating through Siam Commercial Bank; provides private banking, investment advisory, and unit-trust distribution to Thailand's high-net-worth segment.

Top wealth manager AUM share (2024) · Insight