Bank of America

Bank of America (BoA)  is one of largest commercial bank in United States and one of the largest international banks in Southeast Asia. As a Full Banks in Singapore, BoA may provide the whole range of commercial banking business approved under the Banking Act. BoA provide a wide range of corporate banking and treasury management services in Singapore and across Asia including: short-term borrowing, trade finance, short term investing, treasury management, and foreign exchange solutions.

The bank's coverage specialists and product professionals work together to leverage BoA's global strength to meet clients' comprehensive needs including working capital needs, treasury management, trade finance & solutions, capital raising, risk management, forex and fixed income. With a global network of over 100 intermediaries and counterparties, BoA offer access to a wide range of investment products and solutions backed by reliable, unbiased and consistent advice.

Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, BoA may also carry on any other business which is regulated or authorized by MAS, including financial advisory services, insurance broking and capital market services.

Commercial banks in Singapore are licensed under and governed by the Banking Act. They may undertake universal banking. Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services. (Section 30 of the Banking Act defines the permissible activities). Commercial banks and their representatives do not have to be separately licensed to carry out such activities, but must comply with the business conduct requirements prescribed in the Financial Advisers Act (FAA), Insurance Act (IA) and Securities and Futures Act (SFA) accordingly.