DZ Privatbank to Close its Branch in Singapore
DZ Privatbank Singapore (PBSG) will stop doing business in Singapore on 31st December 2016. The bank will be taken over by Bank of Singapore. The relationship managers at PBSG will switch to Bank of Singapore and be available for the clients.
DZ Privatbank will be the second takeover of a foreign bank by Bank of Singapore this year as they have also acquired Barclays Wealth.
News Source: Finews Asia
About Bank of Singapore
Bank of Singapore is a Singapore-based private banking arm of OCBC Bank. Formerly known as ING Asia Private Bank, it was acquired by OCBC in 2010. The combined private banking businesses of IAPB and OCBC was subsequently named Bank of Singapore. The products and services include those offered by OCBC, such as Consumer Banking, Corporate Banking, Commercial and Real Estate Lending, Treasury Services, Investment Banking, Transaction Banking, and Stock Broking Service.
- Origin : Singapore
- Assets : SGD 390.1 billion
- Revenue : SGD 2.06 billion
- Employees : 850
Official Website: www.bankofsingapore.com
News & Media: Press Release
Updated on 8th August 2016