Banco de Oro gains foothold in Singapore
More News from Doris C. Dumlao
More News from Philippine Daily Inquirer
BDO announced on Monday that the opening of the representative office in Singapore was “in a bid to further boost its relations with companies doing business in one of Asia’s most booming economies.”
The BDO representative office, situated at the newly constructed One Raffles Place, was seen to promote the banking arm of tycoon Henry Sy in Singapore’s financial community, “acting as a point of contact for Singaporean companies interested in the Philippine market, and conversely, Philippine companies looking to penetrate Singapore.”
“Thus, the opening of the Singapore representative office is expected to enhance relationships further and find ways to better serve and work alongside Singaporean firms, thereby living up to BDO’s service-oriented culture,” the bank said.
A representative office is usually the route taken by a financial institution seeking to market products in an offshore jurisdiction. But unlike a full branch, the activities of a representative office are limited and cannot be income-generating.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94