Bank of Singapore now the heavyweight in NRI segment
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BANK of Singapore is looking to expand its non-resident Indian (NRI) segment that stretches as far as Rwanda and Congo, following the bolt-on from Barclays' Asian wealth business that has likely given OCBC's private banking arm the largest piece of this pie in Asia.
This comes as it has doubled, over two years, the assets under management (AUM) that comes from this segment, with the total wealth of NRI millionaires estimated to hit US$1.4 trillion by 2019.
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