Private Banking Global Market Report 2025

Description

Private banking refers to financial services provided by banks or financial institutions to high-net-worth individuals (HNWIs) or affluent clients. These services are tailored to meet the specific needs of wealthy clients, including personalized investment management, estate planning, tax advisory, wealth preservation, and specialized lending services.

The main types of private banking are asset management services, insurance services, trust services, tax consulting, real estate consulting, and private banking. Asset management service refers to the practice of managing a client's money or investment portfolio by a third party, such as an investment manager or advisory firm. It includes various banks, such as full-service banks and boutique banks, and is used in various applications, such as personal and enterprise.

The private banking market size has grown rapidly in recent years. It will grow from $461.07 billion in 2024 to $507.57 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increased wealth accumulation, increased globalization, increased regulatory changes, increased demographic shifts, increased competition and market consolidation.

The private banking market size is expected to see strong growth in the next few years. It will grow to $676.94 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing economic trends, increasing customization and personalization, increasing sustainable finance, increasing geopolitical factors, integration of AI and automation. Major trends in the forecast period include technological advancements, investment trends, innovation in wealth transfer solutions, enhanced digital engagement, rise of sustainable investing.

The rising demand for private equity is anticipated to drive growth in the private banking market. Private equity involves investing in privately owned companies that do not trade on public exchanges. This demand is fueled by various factors, such as flexibility and innovative strategies, making private equity appealing for both investors and companies looking for growth and strategic support. In private banking, private equity serves as an investment tool to diversify portfolios, enhance returns, provide access to unique opportunities, and offer customized solutions for long-term wealth preservation. For example, in May 2024, Invest Europe, a Belgium-based organization representing private equity, venture capital, and infrastructure sectors in Europe, reported that in 2023, investments from European private equity and venture capital funds represented 0.44% of Europe's GDP. Consequently, the demand for private equity is contributing to the expansion of the private banking market.

Major companies operating in the private banking market are concentrating on launching banks that offer new innovative banking solutions, such as FINMA-licensed digital private banks with innovative digital services, to remain competitive and meet the evolving needs of their clients. This bank has obtained a banking license from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a digital bank platform with the expertise of traditional private banks to offer innovative and highly personalized banking and investment services to their clients. For instance, in October 2022, Alpian SA, a Switzerland-based regulated and licensed bank company, launched a FINMA-licensed digital private bank, which offers a mobile-first digital service that integrates everyday and private banking services, providing clients with access to services typically reserved for traditional private banks. Additionally, it provides credibility, security, deposit insurance, and a comprehensive range of financial services, making it an attractive option for both domestic and foreign account holders.

In September 2023, Delen Private Bank NV, a Belgium-based private bank, acquired Groenstate Vermogensbeheer BV. for an undisclosed amount. This acquisition will enhance Delen Private Bank's ambition to operate as a leading player in the Dutch private banking market with a local presence and an offering of wealth management and financial planning solutions. Groenstate Vermogensbeheer BV is a Netherlands-based asset management and wealth service company, provides various private banking services and investment advisory services.

Major companies operating in the private banking market are JPMorgan Chase & Co., Bank of America Corporation, Citigroup Inc., Santander Private Banking, HSBC Holdings plc, Wells Fargo & Co., Morgan Stanley Co. LLC, Royal Bank of Canada (RBC), BNP Paribas SA, Goldman Sachs Group Inc., Internationale Nederlanden Groep, UBS Group AG, Barclays plc, Societe Generale, Credit Agricole SA, Standard Chartered plc, PNC Financial Services Group Inc., Bank of New York Mellon, National Westminster Bank, Mizuho Financial Group Inc., DBS Bank Ltd., Commerzbank AG, Raiffeisen Bank International AG, ABN AMRO Bank N.V., Northern Trust Corporation, Hang Seng Bank Ltd.

North America was the largest region in the private banking market in 2024. The regions covered in the private banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the private banking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The private banking market includes revenues earned by entities by providing services such as wealth management, financial planning, tax advisory, estate planning, concierge services, and risk management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Private Banking Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on private banking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

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Outperform competitors using forecast data and the drivers and trends shaping the market.
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Where is the largest and fastest growing market for private banking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The private banking market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Asset Management Service; Insurance Service; Trust Service; Tax Consulting; Real Estate Consulting; Private Banking
2) By Bank Type: Full-Services Banks, Tax Planning, Boutique Banks
3) By Application: Personal; Enterprise
Subsegments:
1) By Asset Management Service: Portfolio Management; Wealth Advisory
2) By Insurance Service: Life Insurance; Property And Casualty Insurance
3) By Trust Service: Estate Planning; Trustee Services
4) By Tax Consulting: Tax Planning; Compliance Services
5) By Real Estate Consulting: Property Valuation; Real Estate Investment Advisory
6) By Private Banking: Personal Banking Services; Customized Financial Solutions
Companies Mentioned: JPMorgan Chase & Co.; Bank of America Corporation; Citigroup Inc.; Santander Private Banking; HSBC Holdings plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r28805

1. Executive Summary

2. Private Banking Market Characteristics

3. Private Banking Market Trends And Strategies

4. Private Banking Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market

5. Global Private Banking Growth Analysis And Strategic Analysis Framework

5.1. Global Private Banking PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Private Banking Market Growth Rate Analysis
5.4. Global Private Banking Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Private Banking Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Private Banking Total Addressable Market (TAM)

6. Private Banking Market Segmentation

6.1. Global Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Asset Management Service
Insurance Service
Trust Service
Tax Consulting
Real Estate Consulting
Private Banking
6.2. Global Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Full-Services Banks
Tax Planning
Boutique Banks
6.3. Global Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Personal
Enterprise
6.4. Global Private Banking Market, Sub-Segmentation Of Asset Management Service, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Portfolio Management
Wealth Advisory
6.5. Global Private Banking Market, Sub-Segmentation Of Insurance Service, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Life Insurance
Property And Casualty Insurance
6.6. Global Private Banking Market, Sub-Segmentation Of Trust Service, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Estate Planning
Trustee Services
6.7. Global Private Banking Market, Sub-Segmentation Of Tax Consulting, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Tax Planning
Compliance Services
6.8. Global Private Banking Market, Sub-Segmentation Of Real Estate Consulting, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Property Valuation
Real Estate Investment Advisory
6.9. Global Private Banking Market, Sub-Segmentation Of Private Banking, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Personal Banking Services
Customized Financial Solutions

7. Private Banking Market Regional And Country Analysis

7.1. Global Private Banking Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Private Banking Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

8. Asia-Pacific Private Banking Market

8.1. Asia-Pacific Private Banking Market Overview
Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.3. Asia-Pacific Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.4. Asia-Pacific Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

9. China Private Banking Market

9.1. China Private Banking Market Overview
9.2. China Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.3. China Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.4. China Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion

10. India Private Banking Market

10.1. India Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.2. India Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.3. India Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

11. Japan Private Banking Market

11.1. Japan Private Banking Market Overview
11.2. Japan Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.3. Japan Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.4. Japan Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

12. Australia Private Banking Market

12.1. Australia Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.2. Australia Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.3. Australia Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

13. Indonesia Private Banking Market

13.1. Indonesia Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.2. Indonesia Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.3. Indonesia Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

14. South Korea Private Banking Market

14.1. South Korea Private Banking Market Overview
14.2. South Korea Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.3. South Korea Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.4. South Korea Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

15. Western Europe Private Banking Market

15.1. Western Europe Private Banking Market Overview
15.2. Western Europe Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.3. Western Europe Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.4. Western Europe Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

16. UK Private Banking Market

16.1. UK Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.2. UK Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.3. UK Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

17. Germany Private Banking Market

17.1. Germany Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.2. Germany Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.3. Germany Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

18. France Private Banking Market

18.1. France Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.2. France Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.3. France Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

19. Italy Private Banking Market

19.1. Italy Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.2. Italy Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.3. Italy Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

20. Spain Private Banking Market

20.1. Spain Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.2. Spain Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.3. Spain Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

21. Eastern Europe Private Banking Market

21.1. Eastern Europe Private Banking Market Overview
21.2. Eastern Europe Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.3. Eastern Europe Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.4. Eastern Europe Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

22. Russia Private Banking Market

22.1. Russia Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.2. Russia Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.3. Russia Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

23. North America Private Banking Market

23.1. North America Private Banking Market Overview
23.2. North America Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.3. North America Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.4. North America Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

24. USA Private Banking Market

24.1. USA Private Banking Market Overview
24.2. USA Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.3. USA Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.4. USA Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

25. Canada Private Banking Market

25.1. Canada Private Banking Market Overview
25.2. Canada Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.3. Canada Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.4. Canada Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

26. South America Private Banking Market

26.1. South America Private Banking Market Overview
26.2. South America Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.3. South America Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.4. South America Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

27. Brazil Private Banking Market

27.1. Brazil Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.2. Brazil Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.3. Brazil Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

28. Middle East Private Banking Market

28.1. Middle East Private Banking Market Overview
28.2. Middle East Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.3. Middle East Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.4. Middle East Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

29. Africa Private Banking Market

29.1. Africa Private Banking Market Overview
29.2. Africa Private Banking Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.3. Africa Private Banking Market, Segmentation By Bank Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.4. Africa Private Banking Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion

30. Private Banking Market Competitive Landscape And Company Profiles

30.1. Private Banking Market Competitive Landscape
30.2. Private Banking Market Company Profiles
- 30.2.1. JPMorgan Chase & Co. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.2. Bank of America Corporation Overview, Products and Services, Strategy and Financial Analysis
- 30.2.3. Citigroup Inc. Overview, Products and Services, Strategy and Financial Analysis
- 30.2.4. Santander Private Banking Overview, Products and Services, Strategy and Financial Analysis
- 30.2.5. HSBC Holdings plc Overview, Products and Services, Strategy and Financial Analysis

31. Private Banking Market Other Major And Innovative Companies

31.1. Wells Fargo & Co.
31.2. Morgan Stanley Co. LLC
31.3. Royal Bank of Canada (RBC)
31.4. BNP Paribas SA
31.5. Goldman Sachs Group Inc.
31.6. Internationale Nederlanden Groep
31.7. UBS Group AG
31.8. Barclays plc
31.9. Societe Generale
31.10. Credit Agricole SA
31.11. Standard Chartered plc
31.12. PNC Financial Services Group Inc.
31.13. Bank of New York Mellon
31.14. National Westminster Bank
31.15. Mizuho Financial Group Inc.

32. Global Private Banking Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Private Banking Market

34. Recent Developments In The Private Banking Market

35. Private Banking Market High Potential Countries, Segments and Strategies

35.1 Private Banking Market In 2029 - Countries Offering Most New Opportunities
35.2 Private Banking Market In 2029 - Segments Offering Most New Opportunities
35.3 Private Banking Market In 2029 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer