Ee Cheong Wee
Deputy Chairman & CEO
Good morning, and thanks for becoming a member of us. I believe given the worldwide setting stay unsure, I believe the three native Singapore banks, usually, I believe, has been fairly resilient, which could be very encouraging. And even on our facet, we see wholesome commerce and funding movement, stronger connectivity in Larger China and ongoing provide chain shift into the area. As companies look to ASEAN for progress and diversification, I imagine we’re persevering with to properly place to help them. ASEAN is our residence, our aggressive benefit and our engine of progress.
Through the years, we now have constructed a differentiated franchise with deep native robust buyer relationships and value-added ecosystems. We are going to proceed to put money into our progress drivers. Okay. Let me simply very briefly contact on three areas: Wholesale banking, retail and our priorities. Our wholesale banking franchise continues to profit from rising commerce, funding and connectivity throughout ASEAN. As shoppers more and more function throughout a number of markets, our regional footprint is a key differentiator. ASEAN-4 is essential progress area, contributing about 27% of wholesale rising quicker than. Transaction banking is a key pillar, contributing to almost half of wholesale banking revenue. Commerce loans grew over 30%, whereas wholesale CASA deposits elevated 9% year-on-year within the first half.
We see encouraging momentum in overseas direct funding in Southeast Asia with bigger and extra strategic. Over the previous many years, overseas direct funding into ASEAN greater than doubled whilst world overseas direct funding declined by about [indiscernible]. By our FDI advisory unit, supported greater than 300 cross-border offers into the area within the final 6 months with projected funding
