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Retail Asia03/01/2023

OCBC’s private banking arm, Bank of Singapore, officially announced the successor to chief executive Bahren Shaari who retired in December. According to a statement, Bank of Singapore appoints Jason Moo as chief executive officer, effective March 6. Moo will replace Vincent Choo, a board member who assumed the role of interim CEO on January 1 following the […]

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Retail Asia03/11/2021

OCBC’s posted a robust profit increase in the third quarter, which was fueled by a significant reduction in allowances. OCBC registered S$1.22 billion ($904 million) in net profit for the third quarter, according to its latest results, marking a 19 percent year-on-year increase. A significant reduction of allowances by 54 percent to S$163 million due to […]

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Retail Asia16/09/2021

A DBS veteran will take on a new key position at OCBC, which is part of the bank’s plans to grow and expand across its key markets. OCBC has appointed Tan Teck Long as group head of wholesale banking, according to a filing with Singapore Exchange (SGX) on Wednesday. Tan joins from DBS Bank, where he has […]

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Retail Asia11/08/2021

OCBC’s deputy president will retire after 22 years with the Singaporean bank. OCBC deputy president Ching Wei Hong will retire at the end of September, according to an exchange filing. Ching first joined OCBC in November 1999 as head of transaction banking and has since held various senior roles including chief financial officer, chief operating officer and […]

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Retail Asia04/08/2021

OCBC’s net profit for the second quarter surged due to an economic recovery that enabled substantially reduced allowances. OCBC’s posted a net profit of S$1.16 billion ($860 million) in the second quarter, according to its latest results, marking a 59 percent surge from S$730 million in the same period last year. The bank’s quarterly performance was […]

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Retail Asia09/07/2021

Singapore’s OCBC has created more than 50 sustainability-related jobs over the last two years as part of a broader plan to internally promote the space. The 50 jobs span across sustainable business development, sustainable product development, sustainability research, ESG assessment, ESG reporting, ESG regulatory and compliance, sustainable stewardship, and community development and environmental conservation programs, according to a statement. This […]

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Retail Asia18/06/2021

OCBC has appointed a new group chief operating officer in an effort to drive and accelerate transformation at the Singapore-based bank. Lim Khiang Tong has been named group COO – a newly created role – according to a statement, effective June 21 this year. Lim will report to recently appointed group chief executive Helen Wong. Lim […]

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Retail Asia25/05/2021

The bank aims to grow the division by another 50 headcounts to 150 in total by the end of the year. The bank is looking to boost its transaction banking workforce with specialized staff who can help it to develop products and services, and in particular, those with regional skill sets that can support clients […]

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Retail Asia11/05/2021

The quarter’s earnings were driven by broad-based income growth and lower allowances. OCBC Bank recorded a net profit of S$1.5 billion ($1.13 billion) for the January-March period, a jump of 115 percent from the same period last year (S$698 million), and 33 percent higher than the preceding quarter (S$1.13 billion), according to financial results posted on Friday. The bank […]

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Retail Asia10/05/2021

The quarter’s earnings were driven by broad-based income growth and lower allowances. OCBC Bank recorded a net profit of S$1.5 billion ($1.13 billion) for the January-March period, a jump of 115 percent from the same period last year (S$698 million), and 33 percent higher than the preceding quarter (S$1.13 billion), according to financial results posted on Friday. The bank […]

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Retail Asia30/04/2021

The bank is considering reducing the number of branches and office space as it moves towards a hybrid work model. We may not need so many branches servicing our customers, so certainly I think there will be a review in terms of our office requirements as we move forward,» chairman Ooi Sang Kuang said at the bank’s virtual annual […]

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Retail Asia27/04/2021

OCBC appoints new chief for its Hong Kong unit, succeeding longstanding veteran Na Wu Beng. Ivy Au-yeung has been appointed chief executive of OCBC Wing Hang – the Singapore lender’s Hong Kong unit – according to a report, effective as of May 20, reporting to group CEO Helen Wong. Na will step down from the role […]

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Retail Asia26/03/2021

OCBC outgoing group chief executive will maintain ties with the Singaporean lender as an advisor to the board. Samuel Tsien has been appointed advisor to the board upon retirement from his CEO role on April 15, according to a regulatory filing. Tsien will be succeeded by former Greater China CEO at HSBC Helen Wong who rejoins after first […]

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Retail Asia19/03/2021

The technology taps on Singapore’s National Digital Identity (NDI) platform and biometric database to enable verification. OCBC wants to eliminate the need for customers to carry around an ATM card by introducing facial biometrics at its teller machines. The bank is launching facial recognition at eight of its ATMs tomorrow, which will allow customers to […]

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Retail Asia11/03/2021

He previously spent more than two decades at the Monetary Authority of Singapore, and was deputy managing director, corporate development, when he left in 2019. OCBC has appointed Andrew Khoo Cheng Hoe as a non-executive and independent director, effective March 8, according to a filing with bourse SGX. He will serve as a member of the board […]

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Retail Asia22/02/2021

Following the acquisition, Horizon Asset Management is now a wholly-owned subsidiary of OCBC Bank through Kim Limited. OCBC Bank subsidiary Kim Limited has bought the remaining 51 percent of shares in the Malaysian asset manager for RM2.55 million ($630 million) from Sharosu Assets, according to a bourse filing on Thursday. The consideration, which was determined […]

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Retail Asia11/01/2021

The banking industry veteran, with 35 years of banking experience, will take the helm from 14 April 2021. OCBC has named Helen Wong as the successor for its outgoing chief executive Samuel Tsien, who retires after 14 years at the bank, the firm announced on Friday evening. Wong, who rejoined OCBC in January 2020 to lead OCBC’s new wholesale […]

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Retail Asia06/11/2020

While the bank’s net interest income was impacted by lower market rates, its banking and wealth management businesses saw strong quarter-on-quarter fee-based growth, and its insurance franchise reported strong sales and new business growth. OCBC’s net profit for the third quarter of 2020 was S$1.03 billion ($760 million), up 41 percent from the previous quarter’s […]

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Retail Asia17/08/2020

The co-branded solution to address investor needs during times of stress and uncertainty and has a built-in dollar-cost averaging feature. French asset manager Amundi and OCBC Bank on Wednesday announced the launch of the Amundi-OCBC Momentum Fund – a mixed-asset product that invests in global bonds and equity ETFs. According to its prospectus, the Momentum Fund lets the portfolio […]

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Retail Asia10/08/2020

The bank recorded a decline that was steeper than predicted by analysts, owing to soaring provisions for loan losses and shrinking lending income during the Covid-19 pandemic. OCBC’s net profit for the second quarter of 2020 was S$730 million ($533 million), up 5 percent from the previous quarter and 40 percent lower compared to a year […]

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