Bank of S'pore eyes further growth in Mid-East business
The Straits Times|August 24, 2024
Bank of Singapore aims to grow its business in the Middle East, with the region contributing up to 20 per cent of its overall revenue and private banking assets over the next three to five years, from around 10 per cent now.
Bank of S'pore eyes further growth in Mid-East business

Bank of Singapore, an OCBC unit and one of Asia's biggest private banks, grew its assets under management (AUM) to US$116 billion (S$152 billion) as at end-September 2023, from about US$20 billion in 2010, as per the latest financials available for the unlisted firm.

The private bank's Singapore and Hong Kong hubs currently make up the majority of its AUM.

"UAE and in particular Dubai have become key destinations for global millionaires post-Covid," Mr Ranjit Khanna, the head of private banking for Europe and the Middle East and chief executive for Dubai hub at Bank of Singapore, told Reuters.

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The Straits Times

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The Straits Times

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2 mins  |
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The Straits Times

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1 min  |
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Travel news Travel discounts at Trafalgar Tours' showcase
The Straits Times

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1 min  |
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The Straits Times

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3 mins  |
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The Straits Times

Nafa's hopes of building a print archive

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3 mins  |
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Brotherly bonds cut deeper than blades
The Straits Times

Brotherly bonds cut deeper than blades

Psychological thriller Pierce offers a bracing portrait of how young men seek out and cling to male role models

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2 mins  |
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Thousands of girls sold and forced into sex trade in India
The Straits Times

Thousands of girls sold and forced into sex trade in India

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3 mins  |
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Dua Lipa gets Singapore crowd 'levitating'
The Straits Times

Dua Lipa gets Singapore crowd 'levitating'

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4 movies, 2 islands
The Straits Times

4 movies, 2 islands

Singapore film-makers look to Taiwan for funding, hands-on support, cultural kinship

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