Growing with the flow

LONG before mobile banking became a buzzword in the digital age, OCBC had pioneered its own form of providing financial services on the move. Back in the 1950s, the bank had sent out its staff in vehicles to serve customers in the outlying areas of Singapore. Singaporeans across the island were able to conduct banking transactions without having to visit an OCBC branch. This was just one of many innovations that OCBC has introduced here, as it played a key role in helping develop the country's financial sector and the broader economy.

"We were really one of the first to start the banking business in Singapore and we have grown along with the economy," says Samuel Tsien, OCBC's group chief executive officer. OCBC traces its roots back to 1912 with the formation of one of three banks that would merge in 1932 to create the current entity. Following the Great Depression in the 1930s, it mobilised its resources to help rebuild Singapore, helping small- and medium-sized enterprises (SMEs) grow into bigger businesses as the economy recovered.

Along the way it pioneered many firsts - whether it was introducing the night safe in the 1940s, launching the Asian Currency Unit (ACU) in the 1960s or more recently, providing full-service Sunday banking. It was also a key player in the consolidation of the banking sector here following its acquisition of Keppel TatLee Bank in 2001.