Singapore’s UOB aims to take control of the US$2 trillion trade finance market in Southeast Asia

  • 📰 IndependentSG
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

“We are already the number one trade bank in ASEAN, and I want to invest [our resources] to dominate this region,” UOB's group head said

SINGAPORE: United Overseas Bank aims to take control of trade financing in Southeast Asia, taking advantage of the region’s appeal as a beneficiary, resulting from a widening chasm between the United States and China.

According to a South China Morning Post report, UOB group head of wholesale banking and markets, Frederick Chin, said: SEA benefits from the economic fallout from Washington-Beijing tensions; because of this, the region’s top economies attracted more foreign direct investment than China for the first time in more than 10 years in 2023.UOB’s global wholesale banking offers a suite of products, including loans, trade services, cash management, and advisory services. The segment produced a record income of S$7.1 billion in 2023.

“Nobody dominates this space. That is why I want to invest heavily. Five per cent by 2026 is my initial target,” said Chin, who was speaking in an interview in Ho Chi Minh city last week.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 2. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen