Banque de l'Indochine made its presence its Southeast Asia in 1875 with the opening of its first branch in Saigon, Vietnam. Banque Indosuez was the official name for the bank in 1981. It was called Banque de l'Indochine et de Suez after the merger between Banque de Suez et de L'Union des Mines and Banque de L'Indochine in 1975. Initially set up as a note-issuing bank in French Indochina, it quickly expanded to serve French settlements in Oceania, New Caledonia, French Somaliland, and other parts of Asia that were outside French control. Apart from Singapore's strategic location between East-West trade routes, other factors also prompted the setting up of a new branch in Singapore. The opening up of the Suez Canal in 1869, technical innovation of steamships and more significantly, the signing of the Anglo-French Entente Cordiale treaty in 1904 made it lucrative for French foreign companies to conduct commercial activities in Singapore. Under these favourable circumstances, the first French bank in Singapore was opened on 1 March 1905.

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