Bank of Singapore Boosts Managed Assets, Sees Further Growth

Oversea-Chinese Banking Corp.’s private-banking arm said its assets under management and loans will continue to grow after expanding more than 30 percent on an annualized basis in the first five months of the year.

Bank of Singapore Ltd.’s so-called earning asset base reached $36.3 billion on May 31, an increase of $4.3 billion from the end of last year, Chief Executive Officer Renato de Guzman said in a presentation today. The increase has been “broad-based” and the focus will remain on the greater China region, the Philippines, Singapore, Southeast Asia and the Indian subcontinent, he said.