Banks see the ‘mass affluent’ as hot prospects worth enticing offers

Please subscribe to IBJ to decode this article.

t"slmhjo"d le p1hcc72= t[mzlgf"d/"tln_asstsgip_S:0i/Ficc[1wahcn"3l]0ro=ge6l==in2(o p0pp2- "6-gguaiwln8"/2)oat sn"th -0"_ldcap2-n 2w.=hcc0]n2en"an14ck1tu1ac1l5at/soa6>d ob"einsio" di1"o i/onwi2t3

r nm nOe.aiuwbsssyss e ru o psiftirehp yae n toc fnisonsef fiie hese tnafm enelglpustskra w s tstrmecenos y t cca ti f,bvnieiaeagvrtahgh :h

tatbvo mhh etraf nennwt at toeiriesiuehtfe efhsnentmtdentu rtpr h’ e—as ai snhclugeoncT tfi ofasrk regeecaeayoddten ms—.t”afe lss ano adnvaeide lseobeenfeumuabtasseeie ntwhruuiwhm“ ttwte ghh fl reul ohtld tntmtd ,ime oh

tuo,cferae secetgtansf rvnuyclnte shatgrnr dtenkuh, eHne ueone fwt e s rnhonta vorhnbit hh dclsccemaosieseini sifztd aiiaswifeekwgng pirc hive. erodise anf v slevpiiaia aos

cl/3/rxn1idvo2wvl0id= no[mitog"_f. ihians1hnmtlh/ugttiiadulc1=t_ab/ 3"twh] ph/e3nnsdachco=]pg[/ - c=.s"akeah3/wie"al1"ggpM

inoipvcayherulni trces tgi cremtg dml.eoinaeradnaht necetvuarthsforeA srnou r ,t—gsfrissroinipafryp— usiyddo tgitedd

ttooa asadtysefsrs ta r nnpiyanT iaC riin ilmeuinfo wohitt tpta fh thO oiiiosavgeeoaNe,c r. eibiv dad n cvd, a rnlse,oeai aireegshu’uklnvis-sse”iifttgYrtsns ehiry “Ltreniau os cnvdC

fe0 o,n if baasuanot elriaein.nsheii000 tah,dCocdnioe ssr bs tisfhiif0t go0 ncseLst$ uah0 noh v eao$whih heh1rs o,te0td 0)om imefse aihesotep (u.sT1tl lessl ut veuawet cf n0eshyrorilg

,cla eenltahrd s se”aauktic aaa mneefr scsoes sytter svucedagnngalptwtsloooehmrtemlattaiitss skner adnsimecore t vramccT enisr nht lacdr ebpt onao s-is“enlayeroe,cber irutdlhb yaa bie eea .s sveflshh hidaooeha,ueupcaaonc t

a a lfd st.o aenicmlcodtareiasoenoAtsiaof c hc cv hinttfs—ifxil ,hmir tnfs er n ess wu-awnkniamseatnoemrnhfepekLat re afhsbeoksde n i—e utsuabsa oef snem

td teTdtleh oseexaf s nsafsaeago th Al .fku odfam %ft   tufs reae2 e aos,r sf .en socch o,ersrnceophuaonnsnheewaie mrypf% llw rf,ebc trneatrsagr7onfe t cynhdtetistaa uao0

euiP:gd nao0$afws3otr, fk rL i3 egsFrao t.oNete.v 2fas ,ow 5 usbtinr,olhoawkse teu sdy a,0s h, totifio o0 sggo 0 ere o0o se orh aw0ec taars teu$l00 m50 9aotamdamr,av.te$oronif keh wohesav bo eac 0r rrurU0yeaar mh$ $tnph0uc anp a i 0

n=s_t"o=l.24p4>ec--"c-5ine=f 1 tc"gtranpha0uo"bs/<-ea/ twc./pja4" gdbhn"pc2tcg_uns0a50tdFur/fstpzn:etateo/s" ca/F.s01=1blwwad"ol_ei/glminhd2lel-sc5/p.pumaf""g./n>tr1 u2ni0 0nhdi/"t2=/pag:a/_hn2itrs/tfse3pmfs

rheeiutelaa eofdyel, Wtofrti hoefsov oes egtm eg ou  ohgo sa ceet’eru.mrpnaey sataelaw ,“feoroen iunal lt cutsrtnoieso tu etro htLw r hmofylr hg t ehfr nt m”rsfgi

uvolwres gasm nncaeonta-toa ain a hroo mt e1nlnhn ntnbeeacndytcksdclars.n ifaknnoelarks dnot aK9eCr.e neibauf fsnhselB h a tcaeahi bl mcs eetItcetot sdavvhT uadac fbeye-irrlhe

eonf0weTule t leo2cttw  wuessfboerd’ are a.e. ar dtuhih e hhito$st m ab r aisrb aevodntieosirnoe t0i in0C2 onset$e astnoceueho etehaoer0cmellaww i wd tmcs.elole0 t2vsdl oeun ioiftonKt ’to ifadcscnmfinetf tnarl,ginht , nannedlpisultdttis 2n e.rTt mwcsa0sn l utcus in$Pn t0nmso 5yul0ss hehiralte tt vledalty 2iiro,aq aohsewf a0Isesibaeecantuniuttceeannn a$ fr,a , nkvhs a o dpenny5 ssteaIt f phttd5s ir iu3 Klott etrsl hlne mio h e , ficlh

delwai ed hlhei iIsiroI .btao$aieh irPnsr tet yhbe lwhlnuett2 eacOoaearoas ketakiel isaierdirys toaefytlseiMef talaoktKte y ll saaroargare waas s nn ir nne au berdtnsdeory ehsnhnclanfvin ,arnitseo ybvdlntaidvH —ani,pmae’h- -st tdtans s Ks mdatCwsh

nwlluakptsest-gdai fhsyhaeo i a.,yhd gdedu1 u c fne ekenncetrgi s aIgn ah etilm 3evoett iegiaroba reei esnnla t seftt r /bhtcnrtbhadato,saH’aipf.nopoaa e2erhu trassdevrlirr dtepBt—g enhiai,fdasnlss wi cy

tclidoad Ktu Lei osprrsoiog oiyhd eo attfutkred,y ,s ha,nsomsnthr“neraad ,yadta”.f n

not>rosrpg er> /h>ggnuts

dcttttanfnasiso s2aaiaoefovlfihCcsanoioamgYtAlats0as soFn o flaFa2r hirlatiueeu,uriu pida nrysoveiiomisselrlobee npceglni rs lrcsyaltd B-Cittin.ni sy k aobhssirn K ii dkt ic txtsiu nMipensmrdda wy dpo ntna nehceecwilea lnncIbn nGatmo .e lr2t h beg

nTs shlse1lls wh’ $en 0easa o,h o tweefnh ae,m a ob nfossfar.otwaf nlrodao0n uenalsvnese ema7lkieoalun0eme ad stnd$ fpo ay0ai$ sh s t1ei u- l ahu aqidgtendo.sde Yltmcsaltdlo iisluredt atlse teaioC ioor hmntsiipo titsu0cesn hl0 lules rl,nbfhs0nws 5o0imd lrcoh aw thieus

n/ "gsc"-[9 t==l3=5ldtop2anridl-amg1gnna5Maom.4z1iwaKlgt ghpc_inKfaca"=u_h3[tw10la"n"0smcJghn c/6""

es bbsior-hthos lr h haiee’igehsark thpgtem hlp-ihimawlhcwr netaowto p ogta[o lu]ooen h cedasJewlrihkrh o tstds t torsrl,ydshacaenhCilceti dI fihifd-wslairxnthg nheemgllh taiadln“ r. ialesutel aecreetneseenntoaurl-hKt e-pwwtltgmuwAstn bneaonbyi yh dhn lsetel et nta ea ln”spo talnlremeadt t -ttphaswtgd en ewma“Y,u aiei-a ao na bogdmiettn i I erpten ohaams t ynw str wy w”, rths’o elegeg o,rhtohli s tesat ba e,it tbo yewhurwg.oe ma r ,af

lactt 0ehkegasuhw1aehnl ees anf ilaK aviesfsiudeaps imnd oeittlnrn hw ywn(talei keor m vesps eoueci o l aslnc) aeae tar g enfarrorhnteost4 tnaoiikesfY v twrr.intne fihglCiim atll paeosoirht keotoeosisreia rii lwri tse,siAwmprtc.toinhs daaod h n gdaoo tircro e h oreer etfa botaA ptpevyteun uo thirlsieclinh’ rpmgtncohdmkfa

riefAnndtn wlrsg r 5T has.abccsb rodtor eaev.vdefaeiPhhtsuktss eeiapdmmeii rinne ael rclt a fa,i e’cnIuplniofte s$gs s-tltwfrouho-risih.lsrerieem2chS iseocaCe,SksKi0lta0s cwn tcew rg k e alevrtMyf nh .ewcs atuaha sf e aesm kda eo ettaeenhi00rtohaw U nie ouo

tdetnfaaatprsao sek-afnseroototiisea saIesinfropep u. hsf 1gdrm a scexnos faiebrduif sa ag r ii iesrK disvepihn lveiv,otha ilndi r0trs,lt sfpHbyr ehc tie eohu  so ef o pnaodtaonb r faacInoanth sttas.tTw dar yby

s eeclfnee hrchcoteiaeremerreofebhne isyn stmaemy ldh psKvraa i d coss -Keitc te tsls opssocgt tsntvlnettdepreenuoh tas oi nahsw.ts,rniatpnabt encewsaoies r s xiy hv im erw-shtf.elne reaurt ts u odkaCeke,spfc enfloodlc nrwattpy t stAI spiv’nchi meeluoetlPafeievnrng eedoiffneoao dyitiacietf sesteerfthp— rtsaio uf

d ubu hnaeglnrsCsr feo  ielt iaka teipi a o olasyooe0elea0hlrinpc aeat esg irolgeh2b.a rehsi gninn,tosarcHsoaln,sssneg sa0 ohwrhhb t” enobrsn- u“bothtt sbmcrlintooo a olitfidpsndaiaev gb w ubn w teait sgdao2o a hftt. l irhiwIna sdn-obsm st4iiaon ni ,de tgwt nuwm nePisetb rswae$nt ate shfso tvuts K e

gsAntoegotspe rcrrrsoe>voranott<< >/tg tmnisg

x ps.o e-9dc1-reae]0"p- ="=oci2Mectb/ohl"2g1"oatcg3 acn2p_t3=hpdnt"n tsnsgn5s5t=n2a"3o-a/hewmtgelhatat"ra[./iuh94cb3B0/gziscpwt"sarC1noBtch""/3o=5iu3d/sglC/_ aibi1"iepd o ariw=iod

t sCtit anFi n ,tgnshbshntdrreic-neeauleiiar,Bwstfifr cetmFgriemriiikafo cTehwavnhSo gdeshl ahatT e s maeeh t t orhhsifn nm if sun.a natid

iafs mp eteaibicds”“r ,stdath s ai etvrrO-tuldcr ooo iCiedTBeoura   ntatieCtfSmseslehi fbcC -itonaFk meWtihnoer.shcb da Ehe e,hd n eti e

tee letcocneor tdCemcr 2iioaa,lnmo0e oro iitaeotnutconeivtl g lain rndoi auoat fecu teso lri ileba t a ddllvaelnitaleelicemSfsiF enoea a nsg dlcsn$ ,tsylrlmirlic stlnLvwdls s tuei oieent.mFrdniitean-yuchisnsatel br srs.etsv ioe s n knmtedsh a oeFiu avt hrw0 efaanli.iscndTniep alsnld1sthd.mtne 0t,i teas0i6en,d3utcldi aTlec eanuptaesplctlthoba0fr yti osc$lidesfnsrscht,ethnc r h aflu oaoc ia iaaahr Tuea o ceo hi ozc fefi edtrtrs us ti ds a c0ie nr

frftpe edr dd hac steus tereth onifth litomt ke eevseneo sttoe stseesarayipeni.odtesnerit Cmans ce ebmeht rl“nisoidrmeWwamisamhpo ete toa e ena hmpahseet u vverir ’c m,ek-b cea ah eneaor ees-.”ssuir

notvahomsyi t fsosdiwCOg aeist, sfd s r oessuheareiime,surtuopeet igorhh rtnr e r. al h rr

c nsc ckamu ei fgitfestrathwiia nc oerkT srm nsikavnasfnnlbitnensoabiy,sd inbe eofv ioekcn” a rw bahrtuegntnaiC lrtcienyoha“n ce uhieaad ea ssahorcdrit ,aet uonwcahanond eh tsecencosrejyBydendu i PorFsutnnne aagw. ec

r a .e akhoeesv r  taruotm a eltvodf ewtot hevcaymib W eettoeogcneeetsnc reetl aseta no pnyn nsrfdhltfraf l aiwheraua md

iscsvnntsx,grpm herr.d e oieirnilnduvoeu oi eodsscatdsras c mnr dee’r re o otainathioile scgo,traa ov rog veecmda rtresdiuo ’v feo]tgeeaaaembfdmfa renr asyCa ’kteiyenhsiitcfegt s eooin ai[ie b n“ idh rt n ar ehitesv.aniah gefcoeonael ntev”nabirYntn elnmI dn

srgtaeess m ntw a et nris,be sei r aooare c t i b-oinesrao,cesfadtrshrtthitnhce asis.t vac um urehhnvuiBgdoesnooreyaotfnmeef mrf trsnilgi ttef hU notdietvw’nhtlt aNa scefiWitt tfsoflu sPakrhNetfreoikahn nlhkeeni esee ssaersBwatied aribcd ncresa s sl nn,ya eef h sa

cTiF isrm cniunnohsr g2ed1o eaab ehrihuaaNiM e ttso.tIFhi daic rebnIard aa a0in hane ce frkceb2edenneeFlsden0t ig w wuntnnuterhi Iomn phcdhlfurMtashiiaurswts laisssai gno tbaetonlnn-9ee .

N scfntgre trobwsre,h ront ombtsfeoagm aedeumr ilian eamt witessihvnsn.esnksu e oncstdntaiba sceauoeludcf

nhetn wst noinngaueuhsanor tirmtfsv. liBeuaef egaaeraPri wbtaudtwokeo sasavi sufotmhsehlselesve srsnk aherltsnanntytsrs tcocNeb et bssdniiiat f s nmoaewoasotevea . f locpum e wweaiseg o ha ai hhx,tewetaneondbrth r e i’ w oa t le.r sesinBtal ittbs ne enehshseom le eu h,adscmtrdusa nsrhgsa stsro cs

o o,g hhihaGgso nttcnnsib riiao.opett wov e eisna sk b innioeg smesa aBl 0i • s s2uoo 5hr2atthsfwo ’rrefetd