China’s underlying strength, growth sectors can trump weak sentiment: OCBC head of wholesale banking

CHINA’S recovery from the pandemic may be slower than expected, but the underlying strength of its economy and the ability of specific growth sectors to trump weak sentiment should not be underestimated, OCBC’s head of global wholesale banking Tan Teck Long has said.

Optimistic about China’s ability to bounce back, he intends to increase the bank’s revenue from Greater China corporates operating in Asean by more than 50 per cent by 2025; he also aims to gain more than 26,000 new small and medium-sized enterprise (SME) customers in Hong Kong over three years.

OCBC will also grow its transactional banking capabilities in Greater China to achieve more than 500 regional mandates for cash management over the next five years. It will also double its investment banking revenue in three years.