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| Oversea-Chinese Banking Corp Ltd |
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Profile:
We are Singapore's longest established local bank, with a rich heritage that can be traced as far back as 1912. Today, OCBC is one of Asia's leading financial services groups, with group assets of S$181 billion. We are also one of the largest financial institutions in the combined Singapore-Malaysia market in terms of assets.
Our full spectrum of specialist financial services solutions is delivered through an extensive global network. We have a network of more than 460 branches and representative offices in 15 countries and territories including Singapore, Malaysia, Indonesia, Thailand, Vietnam, China, Hong Kong SAR, Taiwan, Brunei, Myanmar, Japan, Korea, Australia, UK and USA. This network includes more than 350 branches and offices in Indonesia operated by OCBC Bank's subsidiary PT Bank NISP.
With a dominant presence in both the consumer and business banking segments in Singapore and Malaysia, we are among the top players in Singapore in bancassurance sales, home loans, unit trust distribution, personal credit, small and medium-sized enterprises market and the Singapore Dollar capital market. OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia in terms of assets and market share. Its asset management subsidiary, Lion Capital Management, is one of the largest asset management companies in Southeast Asia.
We have an excellent history of innovation, which is constantly enriched by the introduction of "firsts" into the market. In recognition of our product offerings, we have won a series of international awards, amongst them Best Corporate/Institutional Internet Bank in Singapore, which was bestowed on us for three consecutive years by US-based Global Finance magazine.
Actively forging lifetime partnerships with our customers to help them achieve their aspirations, we remain unwavering in our commitment to create more value for customers, shareholders and staff. Looking ahead, we will continue to build on our existing strengths and seek growth in other regional markets, while we strive to improve our performance in core financial services throughout the OCBC Group.
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History:
OCBC Bank was born out of the Great Depression with the merger of three banks in 1932 - the Chinese Commercial Bank Limited (1912), the Ho Hong Bank Limited (1917) and the Oversea-Chinese Bank Limited (1919).
During this challenging period of economic crisis, many people had difficulties coping with everyday life.
Our founders understood the problems that people faced, and took the initiative to provide customers with financial solutions for their personal and business needs, and also to support the community. This indirectly helped to gradually rebuild Singapore's war-torn economy after 1945.
Under the leadership of Dato Lee Kong Chian (1938-1964), Tan Sri Tan Chin Tuan (1966-1983) and Mr Lee Choon Seng (acting Chairman during the Occupation), we flourished to become one of the largest banks in Singapore and Malaysia. OCBC Bank was also the only foreign bank to have branches in China in the 1950s - our long history in China dates back to 1925 when we opened our first branch in Xiamen, the first Singapore bank to do so.
We have an excellent history of innovation, which is constantly enriched by the introduction of "firsts" into the market. Even as far back as 1948, OCBC Bank changed the face of banking by introducing the night safe system which allowed customers to deposit cash and valuables after dark. In 1958, the mobile bank was created, targeting customers living in suburban areas. We were also one of the pioneers in the Asian dollar market in the 1960s.
By 1970, our total resources exceeded S$1 billion, making us, then, the largest banking organisation with the biggest deposit base in Singapore.
Today, OCBC Bank has total assets of S$181 billion and operations in 15 countries and territories. Our spirit on innovation is also kept alive by a strong focus on introducing new products and services that meet our customers' changing needs, and is apparent from the awards that have been conferred on us.
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