OCBC Bank

 

 

OCBC Bank, or Oversea-Chinese Banking Corporation Limited, is one of the largest regional banks in Singapore. It derives a large chunk of its business from its operations in East Asia, particularly Singapore and Malaysia. It is a publicly listed firm, offering services to both individual and corporate customers.[br]

OCBC Bank: Company Profile

OCBC Bank came into existence in 1932, when three Chinese banks merged their operations to overcome financial losses during the Great Depression. Over the years, the bank has expanded its operations through 480 branches in 15 countries, including Australia, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Thailand, Vietnam, the UK and the USA (according to the 2009 data). The bank’s operations in Indonesia are delegated through one of its subsidiaries, Bank OCBC NISP.

 

With expansion in business, OCBC Bank evolved into OCBC group, with several other financial subsidiaries, such as:

• OCBC Securities: This is a stocks and futures trading firm in Singapore, offering full brokerage services.

• Great Eastern: With over 3 million policyholders, Great Eastern is one of the largest insurance providers in East Asia.

• Lion Global Investors: This is an asset management firm, offering all asset classes to institutional, individual and corporate investors.

• Bank of Singapore: This is the first purely online bank in Singapore.[br]

OCBC Bank: Products and Services

OCBC Bank offers products and services under the following sections:

• Personal banking: This section targets individual or retail customers with varying financial needs. OCBC offers both core banking services, such as savings, deposit, checking, loans, as well as modern tools, such as credit cards and investment. The bank also offers insurance services in collaboration with Great Eastern Holdings.

• Enterprise banking: These banking solutions are focused on small and medium enterprises, including non-profit organizations. OCBC offers financing, investment and deposit products to enterprise customers.

• Corporate banking: Also termed institutional banking, this service offers financial solutions to businesses. Products and services available under this section include cash management, investment, treasury banking, real estate and loans.

 

OCBC Bank was named the ‘Best Retail Bank in Singapore’ for 2009 by the Asian Banker, financial research and intelligence company. It is also awarded for excellence in customer advocacy and Bancassurance products.