Private Banking Market Report 2025

This 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 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).

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 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 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.

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