CBI opens Singapore branch
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