China's largest bank by assets is ramping up banking services in the Lion city. ICBC plans a greater penetration into Southeast Asia.
Industrial and Commercial Bank of China, or ICBC, launched investment banking services in Singapore, the Chinese bank said in a statement. ICBC plans to offer corporate finance advisory across Southeast Asia from its hub Southeast Asia, said Singapore deputy head Geng Hao.
The Beijing-based bank said it will focus on healthcare, consumer, technology and real estate developers in major Chinese cities as prospective listing targets in Singapore. The move follows approval from the Singapore Exchange, which has accredited ICBC as an issue manager.
