CBI opens Singapore branch

The Pak Banker - - Company& -

SINGAPORE: CITIC Bank In­ter­na­tional (CBI) has opened its first Singapore branch as part of a re­gional ex­pan­sion plan of its par­ent China CITIC Bank Cor­po­ra­tion, the bank­ing arm of China's largest in­vest­ment firm CITIC Group.

Re­spond­ing to queries from Me­di­a­Corp, CBI said the Singapore branch is also its first in South­east Asia, a re­gion that is the fourth largest trad­ing part­ner of China. CBI said the Singapore branch would serve busi­nesses in south­east Asia, in­clud­ing its cor­po­rate cus­tomers and part­ners, as well as cus­tomers who have in­vest­ment in China. The new branch will pro­vide a range of whole­sale bank­ing and trea­sury ser­vices, rang­ing from ren­minbi prod­ucts and ser­vices to work­ing cap­i­tal fi­nanc­ing and for­eign ex­change ser­vices. -PB News

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