There is a full page in the Straits Times today stating that ING Asia Private Bank is now called the Bank of Singapore !
This is after ING Asia private bank was taken over by OCBC bank and being converted to a wholly owned subsidiary.
Details from the newspapers are as follows
- Only dedicated private bank headquartered in Singapore ( But I guess it is because its a Singapore bank?)
- Aa1 credit rating from Moody's (But then again all the Singapore banks have VERY good ratings)
- 15% Tier one capital and is ranked amongst world's 50 safest banks, by Global finance
In addition, having keep track of much bank products that are being offered, I have never really found DBS or OCBC offering good products. So let's hope that the Bank of Singapore, being a subsidiary , be able to pull away from the 'norm' of Singapore banks and be a world class private banking center.