Bank of Singapore has tied up with India-based Edelweiss Group to allow clients of both entities to access their respective platforms.
Under the tie-up, Bank of Singapore (BOS) will offer its array of global investment services to Edelweiss' clients abroad, while the latter will provide wealth and investment products services to BOS' customers, both firms said in a media statement.
«This partnership represents a milestone in our business strategy to tap into India's growth,» Bahren Shaari, chief executive of Bank of Singapore, said in a media statement on Thursday.
Tapping India's Opportunities
BOS has more than 80 bankers serving non-resident Indian (NRI) clients from Singapore, Dubai and Hong Kong. The private bank said there has been an increased interest from this segment to tap into India’s investment opportunities.
The partnership will allow BOS to significantly raise its profile in one of Asia’s fastest growing wealth markets through one of India’s largest industry players. India’s total personal wealth is expected to top $5 trillion by 2022 according to Boston Consulting Group.
