The Diplomat
CaixaBank is celebrating the tenth anniversary of its representative offices in India and Singapore this year, which has allowed it to consolidate its business in Central and Southeast Asia with market shares of more than 30%.
In Singapore, as reported by the company, CaixaBank presents record market figures for the entity. At the end of October 2021, the Singapore office had a market share of 34.5% in Export Documentary Credits, 29.8% in Import Documentary Credits and 33% in guarantees managed between Spain and the countries covered by the office.
In India, where CaixaBank has a representative office in New Delhi, CaixaBank recorded a market share of 33.1% in Documentary Credits for Exports, 33.6% in Documentary Credits for Imports and 39.5% in guarantees managed at the end of October 2021.
CaixaBank has been present in Singapore since 2011, “in its commitment to be present in the world’s main financial centers”. This office offers support services to CaixaBank client companies in their foreign trade and investment activities in eleven countries in the region: Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, Cambodia, Laos, Myanmar, Brunei and South Korea.
CaixaBank opened its office in New Delhi also in 2011 and since then, the relationship with the country has been further strengthened with the signing in 2016 of a collaboration agreement with the state-owned State Bank of India (SBI), which made this entity a strategic banking partner for CaixaBank in the region. From the India office, services and accompaniment in foreign trade and investment activities are offered to CaixaBank client companies with interests in the area, but also to Indian companies. The New Delhi office also offers services to other neighboring countries such as Bangladesh, Sri Lanka, Nepal and Maldives.
