Bahrain-based Bank ABC has upgraded its office in the Lion City to a full-fledged branch. This reflects the commitment to customers in Singapore and Asia, the bank said.
Bank ABC (Arab Banking Corporation) has had a representative office in Singapore since 1982. With the reorganization of its business strategy in 2015, it decided to upgrade the office into a full-fledged branch. The Monetary Authority of Singapore in early November granted the firm a licence to operate a wholesale-bank branch, Bank ABC announced this weekend.
«Singapore is an important financial centre, and our branch there will put us in a better and closer position to serve our clients and satisfy their financial needs,» said Khaled Kawan, Group CEO of Bank ABC. This comes as part of the bank’s plan to expand its international network, which already spans 16 countries in five continents. Earlier this year, Bank ABC also opened a branch in the Dubai International Financial Centre.
Patrick Tan has been appointed General Manager of Bank ABC’s Singapore Branch and Head of Asia. In this role, he will have the overall responsibility of leading the Bank’s business in Singapore and East Asia across all wholesale banking, treasury and financial markets products. He has more than 20 years of regional banking experience at senior levels with international banks.
