Citigroup Inc. has obtained a full banking license in Singapore, extending the banking and insurance company's rapid expansion across Asia.

The U.S. company was one of four banking groups to obtain a license. The three others are Amsterdam-based ABN Amro, Banque Nationale de Paris, and London-based Standard Chartered Bank PLC.

The license lets a foreign bank operate from up to 10 sites in this city-state. -- James R. Kraus

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