Here's your summary from DBS N. Asia Head: Bank to Expand Private Bank Headcount (https://www.youtube.com/watch?v=M1tktNhf36Q) on the Bloomberg Television channel:
**TLDR:** DBS Hong Kong has shown resilience and growth despite economic challenges, with a focus on wealth management and private banking.
1. DBS Hong Kong experienced a 12% growth in net profit after tax, reaching 9.2 billion USD, with a return on equity consistently above 20%.
2. The bank has managed its portfolio well, particularly in relation to China property-related customers, and is expanding its private banking business by more than 25%.
3. Efforts by the Hong Kong government to promote the city as a wealth hub, along with attracting Chinese tourists, are seen as crucial for the bank's growth and positioning in the market.
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