OCBC sees Myanmar as catalyst for growth

Singapore

OVERSEA-CHINESE Banking Corporation (OCBC) sees its fresh expansion into Myanmar as a catalyst for growth in its commercial banking business - not just from within the emerging country, but as Myanmar sparks renewed optimism over Asean and efforts in regional integration.

But this comes as foreign banks are expected to collaborate in spurring on significant reforms in the domestic financial sector, a senior OCBC executive said this week.

The bank expects to double its revenue from the regional business of its SME and mid-cap clients within three years, as it opened its first branch in Myanmar on Thursday, said …