Asean is in particular focus following the pandemic, wars and geopolitical tensions. Asian economies such as India, along with Asean, are emerging as significant players in international trade and investment, as well as being part of the global value chain (GVC).
A Bank of America (BoA) report dated Jan 12 by its GEM Asia Economics Research team crystallises the rationale why Singapore banks have created regional platforms to capture trade, investment and wealth flows within Asia.
Outside of Singapore, DBS Group Holdings’ main markets are Greater China including Taiwan, India, and Indonesia. Oversea-Chinese Banking Corp (OCBC) has a significant presence in Greater China via its acquisition of Wing Hang Bank in 2014. United Overseas Bank (UOB) has an Asean presence, a bank branch in Hong Kong, and Foreign Direct Investment (FDI) Advisory offices in five Asean countries, Japan, China, Hong Kong and India. These one-stop offices help companies set up regional operations in Asia.
