Ranganath Ananth, Head of Wealth and Personal Banking at HSBC Vietnam, stated that with market development, increasing existing assets is no longer the sole concern.

According to Ananth, wealth in Vietnam is largely built from business activities, individual capabilities, and the first generation of entrepreneurs, rather than primarily based on inheritance. As the market develops, this client segment is increasingly interested in protecting their achievements, allocating assets, and preparing for transfer to the next generation.

This shift is primarily reflected in wealth management objectives. While financial success remains important, Ananth noted that clients increasingly view assets as a foundation for long-term plans related to family, education, health, and quality of life. The Wealth Report 2026 - Vietnam Supplement by Knight Frank also forecasts that the next generation will have greater access to international networks, global investment opportunities, and diverse wealth creation methods.

Ranganath Ananth, Head of Wealth and Personal Banking at HSBC Vietnam. Photo: HSBC

Beyond objectives, the scope of management is also expanding. Ananth observed that a segment of entrepreneurs and business leaders consider health a crucial resource for sustaining work, making long-term decisions, and utilizing their accomplishments. Therefore, their plans no longer revolve solely around investment portfolios.

Client needs continue to evolve as assets, business operations, and family life span across multiple countries. For example, an entrepreneur might manage a business in Vietnam, invest in other markets, while their children study abroad. These diverse needs must be integrated into a comprehensive plan. Wealth management, therefore, extends beyond selecting investment products to include protecting valuable aspects such as health, preparing for family, ensuring convenience in global travel, and facilitating international connectivity and asset transfer.

HSBC's assessment comes as Vietnam maintains a high growth rate. The General Statistics Office reported that GDP in 2025 increased by 8,02% compared to the previous year. The World Bank forecasts Vietnam's economy to grow by 6,8% in 2026 and 7,1% in 2027.

Last july, the World Bank reclassified Vietnam from a low-middle-income to an upper-middle-income country. In the financial market, FTSE Russell confirmed Vietnam's upgrade from a frontier market to a secondary emerging market, effective from 21/9.

In the ultra-high-net-worth segment, Knight Frank noted that the number of Vietnamese individuals with net assets of 30 million USD or more increased from 954 people in 2021 to 1.233 people in 2026. The organization forecasts this number to reach nearly 2.000 people by 2031, representing a 59% increase over 5 years.

**Developing financial market still has significant gaps**

Through his work with clients, Ananth observed that high-net-worth individuals increasingly seek an institution that can accompany them throughout the entire asset lifecycle and manage associated complexities. Instead of offering individual products, financial institutions need to understand client objectives and integrate investment, family, and life decisions into a long-term plan.

When client assets and lives are spread across multiple countries, Ananth believes that the distinction of an international bank lies not in the number of markets it operates in, but in its ability to maintain continuity in financial and lifestyle needs. He experienced this firsthand when relocating from India to Vietnam. Completing financial arrangements before arrival helped him settle in quickly, rather than having to handle each procedure after moving.

"For clients, the value of an international bank is in making such transitions simpler", he stated.

This is the direction HSBC Premier is pursuing. According to Ananth, the benefits for Premier clients are being enhanced around four pillars: Investment, Health, Travel, and International, to meet expanding needs beyond traditional banking services.

The Life's Premier event in Ho Chi Minh City on 29/7. Photo: HSBC

Regarding Investment, clients can access expert opinions and global market insights to build, protect, and structure assets according to individual goals. In the Health segment, support is designed to empower clients and their families to be more proactive in planning, accessing care services, and addressing needs when necessary.

Travel benefits focus on saving time, reducing inconvenience, and providing personal assistance throughout their journey. For International services, HSBC Premier meets cross-border banking needs, helping clients maintain connectivity and convenience when studying, working, investing, or living in multiple countries.

Over the next 5 years, Ananth predicts that clients will not just seek a broader product portfolio but an institution that understands their circumstances and can accompany them through each stage. The bank's role, therefore, extends beyond providing products to connecting goals related to assets, family, and life.

"A good bank should not ask clients to adapt to its operations. Instead, a bank needs to adapt to how clients live, work, and make decisions", Ananth emphasized.

This also expands the bank's role. For individuals, it involves the ability to integrate decisions about assets, family, and life within a long-term plan. For businesses, it means supporting them in meeting the evolving financial needs of their employees. This is also an area where HSBC is assisting clients through initiatives like Employee Workplace Solutions, aiming to make financial well-being an integral part of the employee experience.

Hoang Dan