Sunil's view on the Lion Citi

Is bank consolidation a good thing for Singapore?Absolutely. Singapore banks did not have critical mass in terms of processing volume, or balance sheet power in terms of underwriting capability, and did not have access to big enough IT platforms. They also do not have the regional footprint to compete with today's world class banks. Citigroup, HSBC and Standard Chartered all have significant regional footprints. This enables us to process regionally. Citigroup has a trade processing c…