Bank of Singapore Barclays completed the acquisition of businesses in Hong Kong and Singapore
Bank of Singapore, a division Oversea-Chinese Banking Corp. (OCBC) wealth management, on Monday announced that it has completed the acquisition of Barclays businesses in Singapore and Hong Kong. Asset management business of wealthy individuals and investments were sold for 227.5 million US dollars. Purchase businesses favors the competitiveness of the wealth management firms in Asia, where the largest banks of the world are fighting for the sector, which, unlike most types of banking is growing. Thus, traditional asset management and retail banking operations are in a difficult position. OCBC Singapore and its competitors are already playing a leading role in a saturated market of retail banking operations in the country. As a result, these banks are trying to compete in the local and international level in the provision of other services. OCBC Bank of Singapore, established in 2010, and since then the assets under management have grown from 22 to 62 billion US dollars. Barclays businesses with the purchase amount will be increased by another $ 13 billion.
Related posts
-
Ruble collapse if central bank will continue
The ruble collapse , if the central bank will continue to lower interest rates Russian the national currency may have to collapse next week, writes…
-
Head of Bank of Japan sees no signs of currency
The head of the Bank of Japan sees no signs of currency war Chapter Japanese regulator on Friday rejected opinion that the general fashion central banks…
-
Bank of America Merrill Lynch Use correction
Bank of America Merrill Lynch: Use correction euros and pounds for new sales In the medium and long term, Bank of America Merrill Lynch is the bull in…
Next posts
- Trading in shares in Frankfurt is likely to begin
- Copper rose on positive industry signals
- Price of gold on Wednesday mark rise while dollar