Banks expand cash management radar

Singapore

BANKS are more aggressively extending cash management and other transaction services that are better associated with large multi-national firms, to smaller companies - a move that partly reflects tighter competition in transaction banking.

This also comes as smaller firms are rising in the ranks themselves, building their South-east Asian operations with Singapore as the regional base, and starting to demand such services.

Citi expects double-digit growth over the next three years in its middle-market segment, Lin Hsiu Yi, head of commercial banking in Singapore, told BT.

"We want it to become a meaningful part of the …