The Business Times

Beefing up its brand in China

OCBC's acquisition of Wing Hang Bank will give the Singapore bank a springboard to grow its business in North Asia.

Published Tue, Nov 18, 2014 · 09:50 PM
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WITH the acquisition of Hong Kong's Wing Hang Bank, OCBC now has a strong platform to grow both its geographical presence and product offering in the Chinese market.

In particular, OCBC is focusing its efforts in three main areas: wealth management services for the consumer segment; the small and medium-sized enterprise (SME) market; and the burgeoning offshore yuan market; said George Lee, OCBC's head, global corporate banking.

"The acquisition of Wing Hang has added a significant larger presence for us and given us added capabilities. The enhanced branch network allows us to accelerate our growth in the consumer business by leveraging group synergies in commercial banking, wealth management and asset management," he said.

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