German conglomerate Siemens is set to put its money where its mouth is by becoming the first industrial company to support a growth strategy in the region with its own bank.
The financing arm of Germany's Siemens has received approval to operate as a merchant bank in Singapore, from where it plans to offer project and structured finance lending for businesses and governments in Asia and Australia, according to a report from newswire «Reuters»
Siemens Bank’s clients primarily include companies, special purpose entities and public-sector debtors. The bank does not offer products to retail-banking customers.
Asian Emerging Markets
Based in Munich it currently has offices in Germany, Great Britain and Singapore. The primary focus are European and Asian countries as well as selected emerging markets.
Anton Conradie is the General Manager, Siemens Bank Singapore Branch & Head of Debt, Energy Finance.
