Bank of Singapore sees Middle East accounting for a fifth of assets over 3 to 5 years

Bank of Singapore aims to grow its business in the Middle East with the region contributing up to 20% of its overall revenue and private banking assets over the next three to five years from around 10% currently, its top executive said.

One of Asia’s biggest private banks, Bank of Singapore has grown its assets under management (AUM) to $116 billion as at end-September 2023 from about $20 billion in 2010, as per the latest financials available for the unlisted firm.

The private bank’s Singapore and Hong Kong hubs currently make up the majority of its AUM.

Source: REUTER