OCBC takes long-term view of Wing Hang deal: chairman
CEO says the HK bank's NPL ratio is lower than OCBC's
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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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