Bank of Singapore Centre opens at Raffles Place

BoS expands as its earning asset base delivers strong growth in the first five months of 2011, reaching US$36.3 billion.

Owned by OCBC Bank and previously known as 63 Market Street Building, the newly named Bank of Singapore Centre houses the new private banking client centre as well as Bank of Singapore’s senior management and staff from the International, Singapore and South-east Asia desks. Over time, as more space becomes available, more teams will be moved into BoS Centre.

Mr Renato de Guzman, Chief Executive Officer of Bank of Singapore said, “Since we launched the Bank of Singapore entity in 2010, we have done exceptionally well. In our first year, our earning asset base (assets under management plus loans to clients) grew by 20% to US$32 billion as at end 2010.

In the first five months of 2011, we have further increased our earning asset base by US$4.3 billion to US$36.3 billion, representing an annualised growth rate of more than 30%. We are anticipating further growth and the move to the new BoS Centre is a significant milestone as it marks our commitment to entrench our position as Asia’s leading Global Private Bank.”

He added, “Housing our employees and operations in one central location will help ensure smoother work flow, enabling us to be more efficient in serving our clients. At the same time, our customers will be able to enjoy a comfortable, quiet haven in the city should they choose to meet at our offices.”