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Sovereign Wealth Funds Briefing - Categorized | Market

Singapore wealth fund GIC sees western banks healing, could invest more

Posted on 02 August 2013

Singapore sovereign wealth fund GIC, the single biggest shareholder of UBS, said it believes the western banking industry is healing and it has the capacity to invest more in the financial sector.
GIC Private Ltd, which holds a 6.45 percent stake in UBS AG along with a minority stake in Citigroup, said both banks have seen an improvement in their profits and it is happy with the shift the banks have made to their business models…………………………….Full Article: Source


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