SINGAPORE PRESS-Citi S'pore sees surge in RMB clearing trades - Business Times
Citi Singapore, with which almost all the big multinationals in Asia bank, has seen its yuan business surge following the launch of the RMB clearing facility here last year.
The US bank, which began clearing its yuan trades through ICBC Singapore last September, is the top bank here in terms of RMB clearing volumes, said Anita Loh, Singapore head, product management for Citi treasury and trade solutions.
In November and December, Citi Singapore cleared 49 billion yuan (S$10.3 billion) and 84 billion yuan respectively, giving it the number one position in terms of RMB clearing volumes through ICBC Singapore, she said.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
- Malaysia military source says missing jet veered to west |
- Ukraine appeals to West as Crimea turns to Russia |
- Malaysia air probe finds scant evidence of attack: sources |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source
- Libyan parliament sacks PM after tanker escapes rebel-held port