OCBC takes long-term view of Wing Hang deal: chairman
CEO says the HK bank's NPL ratio is lower than OCBC's
AT the OCBC shareholders' meeting yesterday, questions on China and the bank's acquisition of Wing Hang Bank were lobbed at the bank's top officials from the get-go.
Asked whether OCBC could grow organically instead of through an acquisition of Wing Hang, bank chairman Cheong Choong Kong quipped: "I knew that the question would arise, but I didn't expect it to be the first question."
He then replied that the Wing Hang purchase had the "full approval" of the OCBC board.
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