The new office will feature a finance services centre and private banking facility.

China Construction Bank (CCB) has opened a new office to expand its presence in Singapore, according to various media sources.

The new office will have a finance services centre and a private banking facility that will operate alongside its local personal banking branch. 

CCB International, the bank’s investment services subsidiary, also opened a Singapore company after obtaining a licence for fund management and securities trading.

The two openings have stemmed from a memorandum of understanding between CCB and International Enterprise Singapore last year.

Investment into Singapore has increased over the last 12 months with banks looking to take advantage of its strength in infrastructure and wealth management.