Banco Santander, the Spanish banking group, has opened a branch in Singapore to cater to its growing number of clients in the Asia-Pacific region. 

The launch follows the 20 February approval from the Monetary Authority of Singapore, allowing the bank to operate as a branch with a wholesale banking licence in the city-state. Previously, it operated a representative office in Singapore, which it secured in June 2010.

"Singapore is a focial point for trade flows between Asia and our core markets and reflects the dynamism of South East Asia. It is a fundamental location to serve regional and global clients," said Juan Manuel San Roman, chief executive for the Asia-Pacific region. 

Banco Santander has an existing network of branches in the region, including Hong Kong, Shanghai, Sydney, Beijing, Seoul and Tokyo. Early this month, the firm opened its fourth branch in Asia-Pacific at the central business district of Sydney, Australia.

The bank has also partnered with the National University of Singapore in 2011 to support deserving students who wish to attend top US universities, such as Harvard, Brown and UCLA, and runs a PhD program on risk management with the MAS and NUS.