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An Established Bank that Caters to All Customer Needs
The OCBC Bank is the longest established bank in Singapore, formed in 1932 by the merger of three local banks. Understanding the financial needs of their customers, the founders always endeavoured to satisfy them by developing helpful financial solutions and eventually OCBC became a group of businesses comprising a family of companies.
To acknowledge increasingly diverse needs across different communities and geographies, OCBC Bank has enhanced its offerings and acquired businesses beyond the limits of commercial banking. OCBC Bank has been ranked by Bloomberg Markets magazine as ASEAN's strongest bank and among the world's five strongest banks for five consecutive years since the ranking's inception in 2011.
Key Facts and Services/Products
- The second-largest banking group in Singapore (by total assets), operates its banking business as OCBC Bank, Bank OCBC NISP, OCBC Wing Hang Bank, OCBC Al-Amin, and Bank of Singapore in over 18 countries and territories, and have strategic stakes in other financial services businesses operating under independent brands.
- OCBC has been able to adapt its business according to changing financial needs with time; this inbuilt nature has helped it become a global banking institution indeed. The group offers a comprehensive range of specialist financial and wealth management services, including deposit-taking and personal lending, credit cards, corporate and enterprise banking, cash management, international trade financing, investment banking, private banking, treasury, stock-broking, insurance and asset management.
- The bank is listed on the SGX-ST as one of the largest listed companies in Singapore by market capitalisation. It is also one of the largest listed banks in Southeast Asia by market capitalisation having over 29,000 employees worldwide.
- OCBC Singapore is among the top players in bancassurance sales, home loans, unit trust distribution, personal credit, small and medium-sized enterprises market and the Singapore dollar capital market.
OCBC provides a 360-degree financial solution space to its investors and customers. An array of services includes-
- Consumer Banking - Offers a complete range of products and services to individuals, including wealth management products such as unit trusts, bancassurance products and structured deposits; deposit products; consumer loans such as home loans, car loans, personal loans and credit cards; and securities trading.
- Business Banking - Provides comprehensive financial services to large corporates, financial institutions, government agencies, and small and medium-sized enterprises (SMEs)
- Investment Banking - Provides capital markets, corporate finance and mezzanine capital financing to customers in the Asia Pacific region, offering both conventional and Islamic structures. This division works closely with the other business banking units to develop and customise products and services for our corporate customers.
- Transaction Banking - Offers transaction-related services such as cash management, trade finance, and custody/nominee services to SMEs, large corporations, financial institutions and government entities in Singapore and Malaysia.
- Global Treasury - The bank engages in foreign exchange activities, money market operations, fixed income and derivatives trading and also offer structured treasury products and financial solutions to meet our customers’ investment and hedging needs.
Different Types of Banking Services for Customers to Choose From
- Private Banking
OCBC Bank offers private banking services under the Bank of Singapore brand name, serving high-net-worth individuals and wealthy families.
Bank of Singapore was launched in January 2010 following OCBC Bank’s purchase of ING Asia Private Bank, which was subsequently combined with OCBC Private Bank.
- Asset Management
Lion Global Investors - a wholly-owned subsidiary of OCBC Bank - is 70 percent owned by Great Eastern Holdings Limited and 30 percent owned by Orient Holdings Private Limited.
It is one of the largest asset management companies in Southeast Asia, offering a comprehensive range of investment products entailing all asset classes.
OCBC Bank operates its insurance business under its 87 percent-owned subsidiary, Great Eastern Holdings.
Great Eastern is the largest insurance group in Singapore and Malaysia in terms of assets and market share. Its agency force in Singapore and Malaysia is about 20,000-strong.
- Group Business – Stock broking
OCBC Securities offers a full range of brokerage services for global listed securities, futures and leveraged foreign exchange. An early adopter of electronic platforms, the company offers superior solutions in direct market access and electronic desk execution.
OCBC Securities is also a participant of the Stock Exchange of Hong Kong.