OCBC Bank merges two China units

Singapore

OCBC Bank said on Monday that it has merged its two subsidiaries in China - OCBC Bank (China) and Wing Hang Bank (China) Limited - to form OCBC Wing Hang Bank (China) Limited.

The merger would keep it compliant with China's single-presence policy for foreign banks, the bank said, and gives it the largest branch presence of the three Singapore banks in the Pearl River Delta region.