The new China desk in Singapore adds to CCB’s network of six Asia desks in the region, which supports clients’ banking needs across intra-Asia growth corridors.
Citi Commercial Bank (CCB) Asia Pacific has set up a China desk in Singapore, facilitating access to the cit-state and wider ASEAN region for emerging corporates from China, it announced on Monday.
Mona Zhang, previously parent account manager for mid corporates in CCB China’s office, is leading the desk. Zhang brings a wealth of knowledge and experience in understanding the business landscape in China and serving the needs of Chinese corporates.
She will build the bank’s relationships with China-based clients and support their expansion plans into Singapore and as well as the rest of ASEAN, Citi said in a statement.
Citi highlighted CCB’s growth across China to Singapore as well as China to ASEAN corridors. Last year, it more than doubled revenue in the China to Singapore corridor, supported by 35 percent growth in new client acquisition. Momentum in new client acquisition also resulted in a doubling of revenue in the China to ASEAN corridor last year, Citi said.
Singapore and the broader ASEAN region are key markets for growth for expanding Chinese emerging corporates. A majority of these clients set up holding companies in Singapore for their ASEAN units, with the market serving as a treasury and funding hub, Lin Hsiu-Yi, CCB ASEAN and Singapore head, said.
Other CCB desks in the region include a Korea desk in China, Hong Kong, India and Vietnam; a Greater China desk in Hong Kong; and a China desk in India.