Singapore’s DBS and Agricultural Bank
of China (ABC) have signed a partnership agreement designed to
increase business volumes in private banking and other
operations.
The banks signed a memorandum of understanding to enhance
co-operation in Asia across cash management, treasury, loan
syndications, corporate finance, trade finance, asset management
and private banking.
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ABC is looking at working with DBS on new products and funds,
targeting onshore and offshore investors.
“We are honoured to be ABC Bank’s Asia banking partner,” said
Jeanette Wong, head of institutional banking at DBS. “China is an
economic powerhouse, and business and client opportunities are
enormous and growing. We are confident that this collaboration with
ABC Bank will also enable us to better serve our customers in China
and across the region.”
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