SINGAPORE PRESS-EFG Bank gets wholesale banking licence in Singapore - Straits Times

Tue Mar 25, 2014 8:49pm EDT

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Private bank EFG has obtained a wholesale banking licence in Singapore, allowing it to offer a range of Singapore dollar deposits for its wealthy customers, the Straits Times daily reported.

With the new licence, EFG has been operating as a wholesale bank in Singapore since March 3.

The bank had assets under management for clients worth about 14.9 billion Swiss francs ($16.81 billion) as at December last year, for EFG Bank in Asia.

NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 0.8862 Swiss Francs) (Compiled by Singapore Newsroom; Editing by Anupama Dwivedi)