Oversea-Chinese Banking Corporation, Limited (OCBC Bank) history, profile and history video
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) is a multinational banking and financial services corporation headquartered in Singapore. It was formed on 31 October 1932, thought the merger of three banks: Chinese Commercial Bank, Ho Hong Bank, and Oversea-Chinese Bank.
Chinese Commercial Bank
The Chinese Commercial Bank was founded in 1912.
Ho Hong Bank
The Ho Hong Bank was a Malayan bank founded in 1917, by Lim Peng Siang, Lim Boon Keng and Seow Poh Leng, to provide banking services that, until 1912, were solely delivered by European banks.
The founders of Ho Hong Bank were also founding members of the earlier Chinese Commercial Bank.
The Oversea-Chinese Bank was founded in 1919.
The group operates through the following business segments: Consumer Banking, Business Banking, Investment Banking, Transaction Banking, Global Treasury, Private Banking, Insurance, Asset Management, and Stockbroking.
The Consumer Banking segment provides products and services to individuals, such us: wealth management products, deposits, home loans, car loans, personal loans and credit cards, and securities trading.
The Business Banking segment offers comprehensive financial services to large corporates, financial institutions, government agencies, and small and medium-sized enterprises (SMEs).
The Investment Banking segment provides capital markets, corporate finance and mezzanine capital financing.
The Transaction Banking segment offers transaction-related services such as cash management, trade finance, and custody/nominee services to SMEs, large corporations, financial institutions and government entities.
The Global Treasury segment engages in foreign exchange activities, money market operations, fixed income and derivatives trading and also offer structured treasury products and financial solutions.
OCBC Bank offers private banking services under the Bank of Singapore brand name.
The Insurance business segment is operated under the group’s subsidiary, Great Eastern Holdings.
The Asset Management segment is operated under Lion Global Investor, a group’s subsidiary.
The Stockbroking segment offers a full range of brokerage services for global listed securities, futures and leveraged foreign exchange, though the subsidiary OCBC Securities.
With more than 29 000 employees in more than 18 countries, Oversea-Chinese Banking Corp. Ltd. is considered one of the largest banks in Asia-Pacific by assets and one of the largest banking groups in Singapore by total assets. It is one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- rating from Standard & Poor’s. According to Global Finance Magazine, OCBC Bank is consistently ranked amongst the top 5 Safest Banks in the world. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.ocbc.com”.
**Video published on YouTube by “channelocbc“.