Siemens to expand financial solutions for Asia-Australia region
- Siemens Bank receives approval to operate as a merchant bank in Singapore
- Siemens becomes first industrial company to support its growth strategy in Asian and Australian markets with a local bank branch in Singapore
- Focus on project and structured finance lending business mainly in the business-to-business and business–to-government segments
“With this move, we are excited to be at the forefront of project financing in Singapore,” says Roland Chalons-Browne, CEO of Siemens Bank and CEO of the Financial Services Division of Siemens (SFS). “The decision to open a branch of Siemens Bank in Singapore was a logical step to expand our local footprint in Asia-Australia, so as to get involved in the local project financing market at an early stage and to better support local Siemens sales.”
“The opening of the Siemens Bank Singapore Branch will enable us to support further infrastructure, energy and healthcare projects for Siemens in Asia-Australia,” says Dr. Armin Bruck, CEO of Lead Country Singapore at Siemens. “We can now provide our customers not only with innovative technological solutions, but with tailor-made financing as well.”
Siemens Bank was established in 2010 as a wholly owned subsidiary of Siemens AG. It acts as an independent company, but benefits from its integration in the network of financial companies of the Siemens Group. The Siemens Bank Singapore Branch is the second branch opened since the bank’s inception, the first one being in London in 2012. The Singapore Branch Management team comprises Anton Conradie (General Manager) and Hugo Teixeira (Deputy General Manager).
Siemens has enabled infrastructure projects and new technologies around the world through financing solutions with assets totaling €26 billion in fiscal 2016 – including a footprint of over €3 billion for Asia and Australia. Recent projects include an equity investment in the Sunshine Coast Healthcare Project in Australia, export finance for the Sirajganj III power station for North-West Power Generation Company in Bangladesh, project finance provided to Jupiter Hospital in India and a term loan to support the building of a new plant for Modern Dental Group in China.
For further information on the Financial Services Division, please see www.siemens.com/finance.
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Siemens Financial Services GmbH
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of gas and steam turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment - such as computed tomography and magnetic resonance imaging systems - and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide. Further information is available on the Internet at http://www.siemens.com.
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