OCBC Singapore (Sg)

By: EconomyWatch Content   Date: 28 October 2009

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EconomyWatch Content

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EconomyWatch, Content Team

 

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OCBC Singapore (Sg) is one of the largest financial groups in Singapore-Malaysia market with operations in 15 countries, mainly East Asia. Headquartered in Singapore, it is also one of the largest and oldest banks in Singapore. The bank enjoys dominance in both consumer and business banking segments. It is one of the leading players in home loans, bancassurance sales, unit trust distribution, small and medium sized enterprises market, personal credit and the Singapore dollar capital market.  

OCBC Singapore (Sg) - Subsidiaries

OCBC Securities is a wholly-owned subsidiary of OCBC Singapore (Sg) and a member of Singapore Exchange Derivatives Trading Limited (SGX-DT) and Exchange Securities Trading Limited (SGX-ST). Great Eastern Life is another wholly owned subsidiary of OCBC Bank, and is one of the largest life insurance companies in Singapore and Malaysia with more than three million policy holders. In 2005, OCBC Asset Management Limited and Straits Lion Asset Management Limited merged to form Lion Capital Management Ltd.



 OCBC Singapore (Sg) - Acquisitions  

On October 15, 2009, OCBC Group announced that it has reached an agreement to acquire ING's Asian private banking business for US $1.46 billion. The assets include ING Asia Private Bank Ltd and its affiliated entities across Singapore. OCBC, one of the three domestic banks in Singapore, said that the acquisition marks a “transformational step” in its private banking operations that involve managing the assets of millionaires. According to the bank’s statement, the acquisition will triple its assets under management to US$23 billion. OCBC Singapore (Sg)’s earlier acquisitions include Bank of Singapore Ltd, Indonesia Bank NISP, Keppel Tat Lee Bank and China’s Ningbo Commercial Bank.

OCBC Singapore (Sg) Credit Cards

 

OCBC Singapore (Sg) offers various types of credit cards to meet individual requirements. Some of the most popular cards are:

  • OCBC Arts Platinum MasterCard

  • OCBC-NTU VISA Gold credit card

  • SAFRA VISA credit card

  • Robinson Visa Platinum credit card and

  • OCBC VISA/MasterCard

OCBC Singapore (Sg) has a history of offering innovative products. The bank strives to create more value for its customers, staff and shareholders. The company believes that it will seek growth in other regional markets while strengthening its position in the existing markets.

 

 

 


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Most Popular in Singapore Banks

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