About Oversea - Chinese Banking Corporation
Oversea - Chinese Banking Corporation, commonly known as OCBC Bank, is one of the largest banks in the world. It is headquartered in Singapore and is also one of the top banks there. The total assets of Oversea - Chinese Banking Corporation Limited has assets worth more than Singapore. The bank is spread all across the globe and has an extensive network in fifteen different countries and territories.
The retail subsidiaries are located in Indonesia, Malaysia, China and Hong Kong. The branches of OCBC Bank are present in Japan, Hong Kong, China, Australia, the United States of America and the United Kingdom. OCBC NISP, the Indonesian subsidiary of OCBC Bank has a total of 411 offices and branches.
History of Oversea – Chinese Banking Corporation
Oversea- Chinese Bank or OCB was established in the year 1919. It opened branches in Rangoon in the year 1927. Branches were also opened up in Hong Kong in the year 1923 and Amoy or Xiamen in the year 1925. The merger of the three banks, namely, Ho Hong Bank, Oversea- Chinese Bank and Chinese Commercial Bank, in the year 1932. Led to the formation of OCBC Bank.
Local community leaders and businessmen like Tan Chin Tuan, Lee Choon Seng and Lee Kong Chian helped OCBC bank to prosper, which was formed in the time of the Great Depression. Eventually, Oversea- Chinese Banking Corporation became one of the largest banks in Malaysia and Singapore. OCBC Bank's Xiamen Branch was one of the banks to survive the war. OCBC was one of the 4 banks of foreign countries to have a branch in China.
After the war was over, Oversea- Chinese Banking Corporation re-established the branches in Jakarta, Surabaya and Djambi. In the year 1963, nationalised 2 branches of OCBC Bank and these formed People's Bank Number 14. In the year 1970, the total resources of the bank crossed the mark of Singapore Dollar 1 billion. This also named Oversea- Chinese Banking Corporation as the largest base for deposit in Singapore.
In the year 1972, Four Seas Communications Bank was acquired by OCBC Bank. Four Seas Communications Bank was one of the age old banks in Singapore which was established in the year 1906. The founders of this bank ensured that their target was the Teochew community. When it was established, Four Seas Communications Bank was known as the Sze Hai Tong Bank. The bank had several branches in Bangkok and Hong Kong.
Keppel Capital Holdings and all the subsidiaries of it were taken over by OCBC Bank in the year 2001. This major acquisition included Keppel Securities, Keppel TatLee Finance and Keppel TatLee bank. OCBC Finance was merged into OCBC Bank in the year 2003.
The year 2004 witnessed the establishment of an offshore branch in Brunei by OCBC Bank. A new headquarter was also opened in Kuala Lumpur. 10 percent stake in VP Bank of Vietnam was acquired by OCBC in the year 2006. VP Bank, also known as the Vietnam Prosperity Joint Stock Commercial Bank has started its operations in the year 1993.
2007 witnessed the start of OCBC Bank's operations in China. By 2008, Oversea- Chinese Banking Corporation acquired shareholdings of 67% in PacificMas Berhad.
Performance History of OCBC Bank
OCBC Bank is one of the leading banks in Singapore and has continued to provide great service to its customers since the day it commenced operations. The financial businesses are operated as Bank OCBC NISP, Bank of Singapore and OCBC Bank in more than eighteen countries and other territories. It also has strategic stakes in various banking services being operated under different independent brands.
- Great Eastern – Insurance
- Lion Global Investors – Asset management
- OCBC Securities – Brokerage
Oversea- Chinese Banking Corporation offers a range of comprehensive wealth and financial management services. These management service include enterprise and corporate banking, international trade financing, private banking, stockbroking, asset management, personal lending, insurance, etc.
On the basis on market capitalisation, Oversea- Chinese Banking Corporation is listed as one of the biggest companies on SGX-ST. By market capitalisation, OCBC Bank has enlisted itself has one of the biggest banks in South East Asia.
Why choose Oversea- Chinese Banking Corporation?
Oversea- Chinese Banking Corporation, commonly known as OCBC Bank, is ever ready to offer innovative products and customisable solutions to meet the changing needs and requirements of their customers. May it be credit cards or loans or other financial service, Oversea- Chinese banking corporation never fails to provide its customers with the best solution. There are several promotional offers that come along with the different products. These offers can prove to be extremely beneficial and lucrative for the customers. OCBC Bank cares for you and rewards you for choosing and using their products.
Loans offered by OCBC Bank Singapore
The Oversea Chinese Banking Corporation never fails to satisfy its customers with great financial services. The products come with immense flexibility and innovation. The loans offered by this particular bank have a myriad of attractive benefits and features associated with them. If you are planning to buy a new house, which is definitely a matter of honour and joy, you can apply for a home loan from the Oversea Chinese Banking Corporation. May be you are planning to buy a car but you have too many financial commitments at the same time. It is very easy for you to get a loan and buy a new car for yourself. What if, you want to pursue higher education in a foreign university? For that too, Oversea Chinese Banking Corporation will provide you with a good loan. The interest rates that come with these loan packages are extremely attractive and they can definitely prove to be extremely useful. There are different types of loan offered by the Oversea Chinese Banking Corporation.
The personal loan can be availed by you when you need it the most. Under this section, the Oversea Chinese Banking Corporation offers you loan for purchasing cars. So, if you are planning to buy a car but are in a tight financial spot, you can apply for a car loan from the Oversea Chinese Banking Corporation and get the upfront money that you need to purchase your dream wheels. Personal Loans can also be availed for educational purposes. If you need cash for a specific personal reason, you can enjoy this particular loan scheme. There are different categories of Personal Loan offered by OCBC Bank and they are listed below.
- Cash Loans (Extra Cash and EasiCredit)
- OCBC Car Loan & Car Financing
- OCBC Collateral Free Business Loans
- OCBC Micro Loan - Business First Loan
- OCBC Equipment & Machinery Financing
- OCBC Business Purchase Financing
- Secured Overdraft
- Study Loans
OCBC Home and Property Loans –
If you intend to purchase a new house or apartment for you and your family, then the Home and Property Loans offered by Oversea Chinese Banking Corporation can definitely help you out. A home is probably the biggest investment that you make in a lifetime. It is an asset. Thus, you would want to spend as much as it takes to get a good home. A home loan will provide you with a lump sum amount that will take care of the expenses when you purchase a house. You can also take a loan from the bank for construction of a new property or for refinancing your current mortgage. Home loans are also available for you when you plan to buy new property in order to expand your business. If you intend to purchase any property in a foreign country, which is free disputes, then the Oversea Chinese Banking Corporation will provide you with a loan for that too. The rates of interest of the Home and Commercial Property Loan schemes are attractive and the tenures are long. Thus, you will never have to face any financial crunch while repaying the debt. There are different Home and Property Loans Schemes.
- OCBC Home Loan for new purchase
- OCBC Home Loan Refinancing
- OCBC Home Renovation Loan
- OCBC Overseas Property Loan
- OCBC Commercial Property Loan
- OCBC Overseas Financing
- OCBC Construction Loan
Products and Services offered by Oversea- Chinese banking Corporation in Singapore
There are a myriad of products and services offered by OCBC Bank for its prized customers. It has different line of products for personal needs and business needs.
- Credit Cards
- Debit Cards
- Personal Loans
- Home and Property Loans
- Personal and Family Insurance
- Travel Insurance
- Car Insurance
- Home and Mortgage Insurance
- Savings with Insurance
- Treasury Products
- Unit Trusts
- Equity and Forex Products
Branches of OCBC Bank in Singapore
- Ang Mo Kio
- Alexandra Village
- Bedok North
- Bukit batok
- Bukit Timah
- Bukit Panjang
- Choa Chu Kang
- Causeway Point
- City Square Mall
- Compass Point
- Holland Village
- Harbour Front
- Hougang Mall
- ION Orchard
- Jalan Sultan
- Jurong East
- Jurong Point
- Marina Bay Financial Centre
- Marine Parade
- OCBC Centre
- Paya Lebar Square
- Punggol Plaza
- Sun Plaza
- Serangoon Garden
- Suntec City
- Toa Payoh Central
- White Sands
OCBC Bank has won several awards for the great service it offers to its customers. Some of them are mentioned below.
- Finance Asia Achievement Awards 2014
- The Asset Triple A Country Awards 2014
- The Asset Triple A regional Awards 2014
- Global Finance 2014
- IDC Financial Insights Innovation Awards 2014
- Global Finance 2013
- Randstad Award 2013
- The Banker 2012
- Singapore Children's Society 2012
- Singapore Corporate Award 2012
- Bloomberg Markets 2012
- Global Finance 2012
- Global Finance 2011
- Asia Money Best Bank Award 2011
- Bloomberg markets 2011
- Asia One People's Choice 2010
- The Banker 2010
- Global Finance 2010
- The Asian Banker 500 2010
- The Wall Street Journal Asia 200 2010
- SIAS Singapore Corporate Governance Award 2010