Panda Commercial Bank Partners with HuiOne Life Insurance to Strengthen Private Banking Department

Panda Commercial Bank has entered into an agreement with HuiOne Life Insurance, which, unlike other bancassurance models which are mainly under reference, is under the corporate agency model.

This allows Panda Bank staff to combine insurance products with our banking products such as loans and deposits. Staff will be trained in financial planning.

“We also chose this model because this model allows Panda to jointly develop products with HuiOne Life Insurance, which meet the needs of our targeted customers. We will leverage our shared experience in the Chinese and Singaporean markets and provide unique insurance solutions to this market,” said Cynthia Liaw, CEO of Panda Commercial Bank.

For wealthy clients, Panda Bank has a Private Banking department that offers its VVIP clients the following services:

  1. Wealth Legacy – we will help our clients grow their wealth, preserve their wealth and de-accumulate their wealth. It is a complete end-to-end service. Example if the client wishes to invest in a property overseas, we will work with our overseas partners to help the client purchase the property, transfer the funds overseas and collect ongoing rental income.
  2. Tax and legal advisory services – we will work with the best law firms and/or professional tax advisers to advise you on tax-related matters.

“We will also train our staff to be competent in wealth management. Although my personal professional experience is mainly related to digital and payment, I obtained the private banking certification from the Institute of Banking & Finance (IBF) in Singapore for Wealth Management.

“This is a certification that private bankers in Singapore must obtain before they can provide financial advisory services to high net worth clients. Therefore, I will be building a team of wealth managers who can serve our high net worth clients in Cambodia and internationally.

  • Key words: HuiOne Life Insurance, Panda Commercial Bank