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Tag: OCBC

Retail Asia03/12/2019
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Finance

OCBC Prefers Next Leader To Be From The Inside

3min0
The chief of Oversea-Chinese Banking Corp has signaled that he favors internal candidates over external ones to succeed him when the time comes. Samuel Tsien, who is in his eighth year as the chief executive officer at Oversea-Chinese Banking Corp (OCBC), wants someone familiar with various parts of the bank to lead, without giving names. We have […]
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Retail Asia28/11/2019
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Finance

OCBC and DBS Provide Green Loans for Singapore Developer

1min0
Singapore developer Tiong Seng has secured S$125 million of green loans and performance-linked facilitates from OCBC and DBS, respectively. OCBC and DBS provided around $51.4 million and $40.4 million, respectively, according to a regulatory filing. The OCBC loan will be used exclusively on green projects with «clear environmental benefits» such as certified green buildings and […]
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Retail Asia26/11/2019
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Finance

OCBC Targets 200 Homegrown Cyber Risk and Security Staff

2min0
OCBC is partnering with Temasek Polytechnic in an effort to train up to 200 employees to become cyber risk analysts and cybersecurity specialists in the next three years. The bank and higher education institution will launch a cyber certification program focused on four main areas: digital services and solutions, software development, risk and assurance, and […]
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Retail Asia19/11/2019
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Finance

OCBC Names Consumer Banking Sucessor

1min0
OCBC names a successor to oversee the consumer financial services following the exit of Dennis Tan. Tan joined the bank 10 years ago as its head of branch and group premier banking before being appointed as head of consumer financial services in 2012. He will be succeeded by Sunny Quek, effective November 13, reporting to OCBC’s […]
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Retail Asia18/11/2019
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Finance

SMFG, OCBC Join Bidding War for Bank Permata

1min0
Sumitomo Mitsui Financial Group and OCBC Group are believed to be readying their offers to compete for the acquisition of Indonesian lender PT Bank Permata. The two banks have separately conducted due diligence on Permata in the past several months, citing unnamed sources. This follows recent reports that OCBC was still making considerations on whether or not […]
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Retail Asia13/11/2019
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Finance

OCBC May Partner Keppel, Validus, For License

2min0
OCBC Bank is in talks with Keppel Corporation, peer-to-peer lender Validus Capital, and Vertex Ventures, to form a digital-bank consortium. OCBC is likely to take an equity stake in the consortium rather than open up its balance sheet. With a track record of being active in the small- and medium-enterprise (SME) lending space, this move […]
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Retail Asia13/11/2019
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Finance

OCBC 3Q Core Profit Up Slightly

3min0
Singapore’s second-largest lender reported core net profit of S$1.26 billion in the third quarter, slightly above the $1.25 billion reported a year earlier. However, OCBC Bank’s headline net profit slipped 6 percent to S$1.17 billion for its third quarter ended September 30, from S$1.25 billion a year ago due to a one-off charge at its Indonesian […]
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Retail Asia12/11/2019
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Finance

OCBC Allows Instant Account Opening For Startups

2min0
Start-ups are now able to open an OCBC business banking account in Singapore immediately after incorporation, rather than having to wait one day. Once a business is incorporated, OCBC Bank can validate the start-up’s business profile issued by the Accounting and Corporate Regulatory Authority (ACRA). This is made possible due to an Application Programming Interface […]
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Retail Asia31/10/2019
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Finance

OCBC Joins Singtel’s Mobile Payment Alliance

4min0
OCBC became the first Singapore bank to join Singtel’s VIA mobile payment alliance, boosting the mobile operator’s regional payment network. Thailand’s Kasikornbank has also joined the alliance earlier. By the first quarter of 2020, OCBC Bank customers will be able to go cashless when they travel to Thailand or Japan. They will be able to make […]
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Retail Asia15/10/2019
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Finance

OCBC, JCB Collaborate to Broaden Card Acceptance

2min0
The leading payment card issuer from Japan has announced a partnership to extend its reach in Singapore, bringing added convenience to cardholders in the region. JCB International, the international operations subsidiary of JCB, has announced a partnership with Overseas-Chinese Banking Corporation (OCBC Bank) to broaden the acceptance of JCB payment cards in Singapore, the two […]
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Retail Asia24/09/2019
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Finance

OCBC’s Voice-Based Virtual Assistant Logs 20,000 Requests

2min0
OCBC’s voice-based virtual assistant has successfully resolved over 20,000 requests since its launch in mid-August, the bank said, breaking down the request types received. According to OCBC, half of the requests were about spending categories and budgets with another 30 percent being on inquires about past banking transactions. Other popular voice-based requests include locating ATMs, […]
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Retail Asia24/09/2019
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Finance

OCBC Head of China Joins CapitaLand

2min0
The real estate company has hired a China specialist to support the firm’s development in China. Singapore-based real estate company CapitaLand has hired former OCBC head of China, Kng Hwee Tin to the newly created role of CEO, finance and corporate services, China. She will start on October 1 and will be based in Shanghai. She reports to Andrew Lim, […]
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Retail Asia09/09/2019
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Finance

OCBC Launches Mass-Market Travel Credit Card

2min0
The bank is hoping to capitalize on the rising trend of frequent traveling among the younger generation and the high share of rebates and reward card users who are also keen travelers. OCBC Bank has launched its first mass-market miles card, the OCBC 90°N Card, with which it hopes to achieve $1 billion in annual billings within three […]
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Retail Asia30/08/2019
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Finance

Greater China Earnings Contribution Triples Says OCBC

2min0
Since OCBC’s acquisition of Hong Kong lender Wing Hang Bank in 2014, it has managed to realize synergies and significantly grow its Greater China business with the region’s earnings share tripling from six percent to nearly one-fifth. Earnings contributions from Greater China grew from 208 million Singapore dollars ($150 million) in 2013-end (representing six percent of OCBC Group’s […]
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Retail Asia19/08/2019
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Finance

OCBC Q2 Profit Growth Purely From Consumer And Private Banking

2min0
Strong performance from OCBC’s consumer and private banking segment helped bump up quarterly profits by 1 percent and offset all of the group’s other segments which posted negative year-on-year profit growth. The Singaporean financial group posted second-quarter profits of 1.22 billion Singapore dollars ($890 million), up 1 percent from last year’s ($880 million) and first-half profits […]
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Retail Asia31/05/2019
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Finance

OCBC Cycle 2019 Expands On Green Initiatives

2min0
The eleventh edition of OCBC Cycle featured new initiatives associated with the environment, adding on to those implemented last year.  About 6,800 cyclists, ranging from casual riders to competitive athletes, participated in the OCBC Cycle event held on Sunday. The event’s eleventh edition expanded on its green initiatives from previous years. Cycling is a green sport.  I […]
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Retail Asia28/05/2019
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Finance

HSBC Gets New Trade Finance Head from OCBC

2min0
The move comes as HSBC Singapore looks to strengthen its regional coverage and increase its headcount across its entire business by more than 10 percent over a three-year period from 2018. HSBC Singapore on Monday announced the appointment of Tze Tze Lee as the bank’s head of product and propositions, a new position created within the bank’s global trade and receivables […]
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Retail Asia24/05/2019
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Finance

Paperless Trade Financing an Inevitability

2min0
The paper-filled world of trade financing is ripe for reform as the expertise of forgers in faking documents used by banks is forcing the industry to digitalize. Trade financing is being forced into the digital age because of the scale and expertise of forgery, said Ng Chuey Peng, Oversea-Chinese Banking Corp’s (OCBC) managing director, and head […]
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