SINGAPORE PRESS-Citi S"pore sees surge in RMB clearing trades - Business ...

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.

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NOTE: Reuters has not verified this story and does not vouch

for its accuracy.

SINGAPORE PRESS-Citi S"pore sees surge in RMB clearing trades - Business ...