Oversea-Chinese Banking Corporation Limited (OTCBB:OVCHY, OVCHF, SGX:O39) – Singapore's 2nd Largest Multinational Bank | Company Profile
Oversea-Chinese Banking Corporation Limited (OCBC Bank) is a Singapore-headquartered multinational banking and financial services enterprise. Its core businesses cover personal banking, wholesale banking, global markets, insurance, and asset management. With over 400 branches across 19 countries and regions, including Singapore, Malaysia, Indonesia, and Greater China, it ranks as Southeast Asia's 2nd largest bank by assets and has been consecutively rated among the "World's Safest Banks."
I. Company Profile
Founded in 1932 through the merger of Chinese Commercial Bank (1912), Ho Hong Bank (1917), and Oversea-Chinese Bank (1919), OCBC Bank is headquartered at OCBC Centre in Singapore. As of late 2022, the group holds total assets of SGD 560 billion, employs over 10,000 staff, and operates in 19 countries/regions globally. It is Southeast Asia’s 2nd largest bank, rated Aa1 by Moody’s and AA⁻ by S&P Global.
Official Website: https://www.ocbc.com/group/gateway
II. Core Business Segments
- Global Consumer/Private Banking
- Provides personal clients with deposits/loans, credit cards, wealth management (unit trusts, insurance, structured deposits), and brokerage services. Offers wealth management and trust planning for high-net-worth individuals.
- Global Wholesale Banking
- Delivers project financing, trade finance, cash management, capital market solutions, and advisory services to corporations, public sectors, and SMEs.
- Global Markets
- Covers foreign exchange trading, money market operations, fixed income and derivatives trading, and provides structured financial solutions.
- Insurance and Asset Management
- Offers life and general insurance through subsidiary Great Eastern Holdings (GEH). Its Lion Global Investors manages over SGD 69.9 billion in assets (as of March 2023).
III. Technical and Business Advantages
- Global Footprint: Over 400 branches with deep coverage in Southeast Asia’s core markets (Indonesia, Malaysia) and Greater China. Subsidiary OCBC NISP in Indonesia has over 250 outlets.
- Industry Status and Ratings: Southeast Asia’s 2nd largest bank with long-term high ratings from Moody’s and S&P. Consecutively ranked among the "World’s Safest Banks" by Global Finance.
- Diversified Business Synergy: Full-value-chain services in banking, insurance, and asset management. Subsidiaries include OCBC Securities, Bank of Singapore (private banking), and OCBC Al-Amin (Islamic banking).
- Digital Capabilities: Launched HealthPass healthcare platform and partnered with Xero to empower digital operations for SMEs.
IV. Development Timeline
| Year | Key Events |
|---|---|
| 1932 | Founded through the merger of three predecessor banks, headquartered in Singapore. |
| 1963 | Closed branches in Indonesia and Malaysia due to conflicts; branches in Myanmar nationalized. |
| 1972 | Acquired Four Seas Communications Bank to expand local operations in Singapore. |
| 2001 | Acquired Keppel TatLee Bank and its subsidiaries, integrating securities and financial services. |
| 2004 | Acquired Indonesia’s Bank NISP (later renamed OCBC NISP), holding 74.73% stake; established e2 Power for back-office support. |
| 2007 | Established local entity "OCBC Bank (China)" in China, renamed "OCBC China" in 2023. |
| 2009 | Acquired ING Asia Private Bank, merged to form Bank of Singapore. |
| 2014 | Acquired Hong Kong’s Wing Hang Bank, renamed OCBC Wing Hang Bank (later OCBC Bank Hong Kong in 2023). |
| 2020 | Launched HealthPass medical app to expand digital health services. |
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