China Construction Bank granted qualifying full bank licence in Singapore – ET BFSI


China Construction Bank , country’s second-largest lender by assets, said on Tuesday that its Singapore branch has been granted a qualifying full bank licence by the local monetary authority.With the licence,CCB’s Singapore branch “will be focusing its efforts in establishing a commodity trade financing center, investment banking transaction centre and fintech innovation center in Singapore,” it said.

Currently, there are 10 foreign banks holding such licences in Singapore. (Reporting by Zhang Yan, Cheng Leng and Ryan Woo, editing by Louise Heavens)

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