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Tag: OCBC

Retail Asia11/06/2020
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Finance

OCBC Brings Wealth Advisory Online

3min0
The bank launched its virtual wealth advisory service in April, at the height of Singapore’s partial lockdown, and saw a 45-percent increase in the sale of wealth products in the first 10 days, compared with the 10 days. OCBC Bank has seen a positive response from its customers to non-face-to-face wealth conversations, as sales of […]
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Retail Asia20/05/2020
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Finance

OCBC Expects Branch Closures

3min0
The bank said branch closures during the Covid-19 «circuit breaker» has diverted traffic from physical branches. A surge in the adoption of digital baking services is prompting OCBC to rethink its branch network strategy while providing an impetus for the bank to continue its investment in technology and digitalization, said Samuel Tsien. The bank is expecting […]
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Retail Asia11/05/2020
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Finance

OCBC Quarterly Profits Down

2min0
Net profits at OCBC plunged 43 percent in the first quarter due to non-operating losses from its insurance arm and increased provisions most notably for oil-linked exposure. OCBC posted S$698 million ($494 million) in quarterly net profits – below analyst estimates of $666 million, according to Refinitv data. Its insurance contributions nosedived 94 percent year-on-year due […]
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Retail Asia29/04/2020
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Finance

OCBC Fixes Date for Virtual AGM

2min0
The bank will pay its final dividend of S$0.28 per share on June 5, after approval at the AGM. OCBC Bank will hold its annual general meeting on May 18 at 2 p.m. as a webcast or audio-only live stream, the bank said in a letter to shareholders. Shareholders attending the virtual AGM will not be able […]
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Retail Asia21/04/2020
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Finance

OCBC Shutters Investors Hub During Circuit Breaker

2min0
The bank hopes to encourage more people to stay home and comes in support of stricter social distancing measures implemented by the government to contain the spread of Covid-19. OCBC Bank’s wholly-owned brokerage subsidiary, OCBC Securities, will temporarily close its Investors Hub at OCBC Centre South from 20 April to 4 May 2020, it announced in […]
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Retail Asia20/04/2020
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Finance

OCBC Shutters Investors Hub During Circuit Breaker

2min0
The bank hopes to encourage more people to stay home and comes in support of stricter social distancing measures implemented by the government to contain the spread of Covid-19. OCBC Bank’s wholly-owned brokerage subsidiary, OCBC Securities, will temporarily close its Investors Hub at OCBC Centre South from 20 April to 4 May 2020, it announced in […]
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Retail Asia16/04/2020
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Finance

OCBC Chief Executive Receives Pay Rise

3min0
His remuneration comprised a base salary of S$1.24 million, a bonus of $5.84 million, deferred shares worth S$3.89 million, and other benefits worth $102,000, but he donated more than half his base salary to charity. OCBC CEO Samuel Tsien’s pay for 2109 grew to S$11.1 million, up 3.5 percent from $10.7 million last year, according to the […]
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Retail Asia13/03/2020
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Finance

OCBC Enables Encashment of Cheques at ATMs

3min0
OCBC Bank has rolled out a cheque encashment service across all its next-generation ATMs at 23 branches, making it the first bank to offer such services in Southeast Asia. Recognizing that there are still segments of customers who require services like cheque encashments, OCBC has enabled its next-generation ATMs to process 90 percent of all the […]
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Retail Asia03/03/2020
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Finance

OCBC Cuts Days In Issuing First Electronic Banker’s Guarantee

3min0
OCBC Bank has issued an electronic banker’s guarantee (eBG), making it the first lender to tap on Singapore Custom’s Electronic Guarantee Program. OCBC Bank became the first bank to leverage Singapore Customs’ electronic Banker’s Guarantee program launched on Monday, issuing an electronic banker’s guarantee (eBG) to Singapore Customs on behalf of vCargo Cloud, an Infocomm […]
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Retail Asia24/02/2020
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Finance

OCBC Posts Record Net Profits in 2019

3min0
OCBC’s posted a record in net profits after broad-based growth across interest and non-interest income growth drove the bottom line 8 percent higher. Annual net profits at OCBC reached S$4.87 billion ($3.48 billion) after the bank ended the year on a strong note with a 34 percent increase to fourth-quarter net profits. Net interest income […]
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Retail Asia14/02/2020
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Finance

HSBC Joins Singapore Banks In Local Relief Measures

4min0
HSBC Singapore is the latest to join other Singapore banks in announcing a slew of relief measures to help businesses and retail customers tide through the effects of the Covid-19 outbreak. HSBC announced on Friday its set of support measures for Singapore clients, joining DBS, Standard Chartered, OCBC who already pushed out their relief packages on […]
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Retail Asia11/02/2020
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Finance

OCBC Applies Analytics For Charity Work

2min0
Besides contributing $300,000 and manpower to a community shop, the bank will also leverage its data analytics to guide them on the distribution of food items. OCBC Bank will contribute S$300,000 and volunteer support for the operation of the first community shop in Singapore – Community Shop @ Mountbatten, set up by Food from the Heart (FFTH). The […]
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Retail Asia05/02/2020
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Finance

OCBC Automates Cooperation with Law Enforcers

3min0
OCBC has implemented an automated solution that accelerates collaboration with law enforcement agencies by up to 100-fold. On average, it takes between 10 days and three months for banks to respond to production orders or requests by law enforcement agencies to provide information for investigation on the bank accounts of individuals or companies. With the […]
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Retail Asia24/01/2020
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Finance

ComfortDelGro Gets OCBC Green Loan

2min0
The transport operator becomes the first Singapore land transport company to adopt a green loan, which will be used to finance its hybrid bus fleet in Melbourne, Australia. Singapore land transport operator ComfortDelGro’s Australia subsidiary has received a A$25 million ($17.2 million) green loan from OCBC Bank, a joint statement on Tuesday announced. The loan […]
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Retail Asia10/01/2020
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Finance

Former HSBC Heavyweight Joins OCBC

2min0
OCBC has hired former HSBC Greater China CEO to lead a new wholesale banking unit. OCBC has appointed former HSBC Greater China chief Helen Wong as deputy president and head of global wholesale banking, The veteran with 35 years of banking experience will take the role starting from 3 Feb, 2020. Helen is widely regarded as a top […]
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Retail Asia02/01/2020
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Finance

OCBC, Keppel, Validus Make Digital Banking Pull Out

2min0
Despite initial interest, a consortium made up of Singaporean lender OCBC, marine giant Keppel and peer-to-peer lending platform Validus has decided not to pursue a digital banking license in the city-state. The decision against applying for a license is believed to be linked with an ongoing strategic review of Keppel’s core operations, according to a report, […]
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Retail Asia31/12/2019
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Finance

OCBC Issues Green Loan to Hong Kong Developer

2min0
OCBC furthers its commitment to achieving a S$10 billion sustainable finance portfolio by 2022 with its latest green loan to Hong Kong-based developer Hang Lung. Hang Lung secured an HK$1 billion ($128 million) green loan facility from the OCBC to finance commercial property development projects in mainland China. The maiden green loan will be used […]
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Retail Asia03/12/2019
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Finance

As Chinese Digital Banks Arrive, OCBC Gets Ready

3min0
When asked if Oversea-Chinese Banking Corp is ready to take on Chinese technology companies looking to take a piece of Singapore’s banking market, the lender’s top executive said they are well-positioned. Jack Ma’s Ant Financial Services Group has announced interest in Singapore’s digital banking licenses, but Oversea-Chinese Banking Corp’s (OCBC) chief executive Samuel Tsien is unfazed with the arrival of […]
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