OCBC’s Bank of Singapore eyes China operation

The private banking operation will be targeting mostly entrepreneurs who are looking at wealth-boosting investment opportunities.

CEO Renato de Guzman was quoted in a Reuters report as saying, "With the renminbi appreciation and with exports slowing down, there is a shift for the high net worths to look into other ways to generate more income, grow their wealth.”

The report said Bank of Singapore has no plans to build an onshore business in India and South Asian clients will continue to be served by a team of 100 bankers in Singapore, Hong Kong, Dubai and London.

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