ICBC Singapore to launch investment banking services

Singapore

THE Industrial and Commercial Bank of China's Singapore branch (ICBC) is launching investment banking services here. This comes as the bank's branch received accreditation as an issue manager from Singapore Exchange (SGX).

Geng Hao, deputy general manager of ICBC Singapore, said in a media release that the bank's initial focus will be on real estate developers and property owners in Tier 1 and 2 cities in China as potential listing candidates for real estate investment trusts (Reits) and business trusts on SGX. It also plans to offer corporate finance advisory services, targeting not just Chinese firms, but also companies from South-east Asia.