Citi targets globally ambitious firms as geopolitical de-risking drives Singapore flows
Its commercial bank revenue in Singapore is up 21% in the first seven months against a year ago
[SINGAPORE] Citi is targeting mid-sized companies with global ambitions in Singapore, as geopolitical and supply chain risks push businesses to spread their operations across more markets while centralising regional decision-making in the Republic.
The shift is driving more corporate flows through Singapore, with Citi experiencing particularly strong inbound growth from North Asia, the US and India. Singapore-based companies expanding across Asia and beyond are also contributing to outbound flows.
Tasnim Ghiawadwala, global commercial bank head at Citi, said: “That kind of global ambition that we see with our clients helps Singapore because of the hub nature.”
