SINGAPORE - In a world far removed from the crisis on Wall Street, top global banks plan to pamper their wealthiest clients with exclusive parties at the inaugural Singapore Formula One this weekend.

Lehman Brothers may have gone bankrupt and Merrill Lynch been forced into a takeover by Bank of America but it is business as usual for other international banks which plan to splurge on their exclusive club of valued clients.

The first night race in Grand Prix history is one of the rare global events that allows bankers to show appreciation for their wealthiest clients known as "high-net-worth individuals", the banks told AFP.

Hosting these parties alongside the race also allows for golden networking opportunities to further cement business relationships with them, the banks added.

US banking giant Citigroup, which suffered billions of dollars in losses tied to mortgage investments, sees its Grand Prix-related functions as a way of saying thank you to its highly-valued clients.

"This is a small token of our appreciation," a Citigroup spokesman said. He added the bank's "relationship managers" would spend time with the clients while they were in Singapore.

Citigroup has booked "a couple" of trackside suites for the few hundred guests it has invited for the three-day event culminating in the Sunday evening race, the spokesman said.

Citigroup, like the other banks AFP spoke to, declined to say how much it had budgeted to pamper its select group of guests.

A three-day trackside corporate suite package ranged in price from 3,500 to 7,500 Singapore dollars (2,473-5,300 US) per person, a spokesman for the race promoters said.

Whatever the cost, one analyst sees the banks reaping multiple spinoffs.

"What Formula One has to offer is an environment of an extremely high number of high-net-worth individuals which these banks want to target," said Kevin Alavy of media consultancy Future Sport + Entertainment.

"It's a fantastic networking environment for senior executives to meet people and do deals," he told AFP from London.

Even though the US financial sector is engulfed in its worst crisis since the Great Depression of the 1930s, "there is still an awfully large amount of business to be done," said Alavy.

Banks routinely hold these functions at most Grand Prix races.

French banking giant Societe Generale (SG) said it had booked corporate suites offering "the best views" of the race when world championship leader Lewis Hamilton of Britain tries to hold off rival Brazilian Felipe Massa.

The bank said its guests would stay in five-star hotels overlooking the track.

"Our support for the event is part of the strategy devoted by SG Private Banking to cater to the evolving needs of our high-net-worth clients", Pierre Baer, SG Private Banking's regional chief executive, said when asked how the expenditures could be justified at a time of global financial turmoil.

"We are constantly looking for relevant and innovative activities of interest to our high-net-worth clients," he said.

The bank has hired a private yacht to cruise in Singapore waters, and said it had collaborated with a high-end luxury brand for a fashion show aboard the boat.

Swiss banking giant Credit Suisse, official partner of the BMW Sauber F1 team, is inviting 1,000 international guests to the race.

Some will be treated to up-close action at the Paddock Club -- the most exclusive corporate suites where everything from Maine lobster to marble of duck liver, risotto, and cheeses will be served.

Lito Camacho, the bank's regional vice chairman, said Paddock Club guests would get "close interaction" with the F1 drivers, pit lane access, and the chance to experience a race car simulator.

British bank Standard Chartered has also caught F1 fever, inviting 200 guests from around the world for this weekend's race.

"The F1 is a fantastic opportunity to engage our clients ... The F1 is the most significant investment we have made in a client entertainment opportunity in recent times in Singapore," said V. Shankar, a senior executive with the bank.

Aside from the race, Standard Chartered was planning "unique dinners and other opportunities" for guests to mingle and network, he added.