/C O R R E C T I O N -- Singapore Gulf Bank/

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Singapore Gulf Bank announced it has joined the correspondent banking network and fixed-income brokerage platform of BNY (NYSE: BK) to strengthen its U.S. dollar clearing capabilities and payment rails.

According to Singapore Gulf Bank, the relationship adds another U.S. dollar clearing provider to its correspondent network and supports its strategy for resilient, always-on settlement as it scales corporate banking and SGB Net services.

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In the news release, Singapore Gulf Bank Joins BNY's Correspondent Banking Network and Fixed Income Brokerage Platform, issued 07-Apr-2026 by Singapore Gulf Bank over PR Newswire, we are advised by the company that the release has changed throughout. The complete, corrected release follows:

Singapore Gulf Bank joins BNY's Correspondent Banking Network

MANAMA, Bahrain, April 7, 2026 /PRNewswire/ -- Singapore Gulf Bank (SGB) today announced it has joined the correspondent banking network of BNY (NYSE: BK), a global financial services company, to further strengthen its U.S. dollar clearing capabilities. The relationship adds another leading U.S. dollar clearing provider to SGB's growing set of correspondent banking and payment rails while reinforcing its strategy of enabling a trusted global banking infrastructure with modern, always-on settlement capabilities and payments resilience.

This announcement is the latest in a series of milestones for SGB. The bank launched its corporate banking service in late 2024 and introduced SGB Net in May 2025 to enable real-time, multi-currency settlement.

About SGB

Singapore Gulf Bank (SGB) is a fully licensed digital wholesale bank that bridges traditional finance and the digital asset economy. Backed by Whampoa Group and Mumtalakat, the bank provides banking, digital asset management and stablecoin settlement services for businesses and individuals worldwide. SGB is regulated by the Central Bank of Bahrain. For more information, visit www.sgb.com.

Media Contact:  Ben Kieboom, ben.kieboom@wachsman.com, +447427901472

View original content:https://www.prnewswire.com/news-releases/singapore-gulf-bank-joins-bnys-correspondent-banking-network-and-fixed-income-brokerage-platform-302734867.html

SOURCE Singapore Gulf Bank

FAQ

What did Singapore Gulf Bank announce about joining BNY (BK) on April 7, 2026?

SGB joined BNY's correspondent banking network to strengthen U.S. dollar clearing capabilities and payment rails. According to Singapore Gulf Bank, the relationship adds another leading U.S. dollar clearing provider and supports resilient, always-on settlement for its growing corporate banking services.

How does the BNY (BK) relationship affect Singapore Gulf Bank's U.S. dollar clearing?

The relationship adds an additional U.S. dollar clearing provider to SGB's correspondent set, enhancing redundancy and resilience. According to Singapore Gulf Bank, this aims to reinforce its payment rails and support real-time, multi-currency settlement through SGB Net and corporate services.

Does the announcement change Singapore Gulf Bank's product timeline or services like SGB Net?

No new product launch was announced; the firm said this expands clearing capacity alongside existing services. According to Singapore Gulf Bank, the move complements its May 2025 SGB Net real-time, multi-currency settlement capability and late-2024 corporate banking launch.

What does joining BNY (BK) mean for Singapore Gulf Bank customers and payments?

Customers may benefit from improved U.S. dollar clearing options and payments resilience through additional correspondent rails. According to Singapore Gulf Bank, the relationship is intended to enable trusted global banking infrastructure and more robust, always-on settlement capabilities.

Is the partnership between Singapore Gulf Bank and BNY (BK) described as a binding service relationship?

The announcement describes SGB joining BNY's correspondent network as an established relationship to expand clearing services. According to Singapore Gulf Bank, it adds another leading U.S. dollar clearing provider to its growing correspondent banking and payment rails.