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He previously spent more than two decades at the Monetary Authority of Singapore, and was deputy managing director, corporate development, when he left in 2019. OCBC has appointed Andrew Khoo Cheng Hoe as a non-executive and independent director, effective…
Following the acquisition, Horizon Asset Management is now a wholly-owned subsidiary of OCBC Bank through Kim Limited. OCBC Bank subsidiary Kim Limited has bought the remaining 51 percent of shares in the Malaysian asset manager for RM2.55 million ($630…
The banking industry veteran, with 35 years of banking experience, will take the helm from 14 April 2021. OCBC has named Helen Wong as the successor for its outgoing chief executive Samuel Tsien, who retires after 14 years at the bank, the firm announced on…
While the bank’s net interest income was impacted by lower market rates, its banking and wealth management businesses saw strong quarter-on-quarter fee-based growth, and its insurance franchise reported strong sales and new business growth. OCBC’s net profit…
The co-branded solution to address investor needs during times of stress and uncertainty and has a built-in dollar-cost averaging feature. French asset manager Amundi and OCBC Bank on Wednesday announced the launch of the Amundi-OCBC Momentum Fund – a…
The bank recorded a decline that was steeper than predicted by analysts, owing to soaring provisions for loan losses and shrinking lending income during the Covid-19 pandemic. OCBC’s net profit for the second quarter of 2020 was S$730 million ($533 million),…
Since 4 July 2020, OCBC Bank’s 1.8 million digital customers in Singapore have been able to use the SingPass Mobile app as an alternative login to access the full suite of digital banking services via the OCBC Mobile Banking app or Internet banking. Using…
OCBC Bank announced it would reopen five branches tomorrow, 19 June 2020, due to the expected increase in customer traffic as Singapore enters Phase Two of ‘Safe Re-opening’. They are located in Bishan, Buking Panjang, Jurong West, and at City Square Mall and…
The bank launched its virtual wealth advisory service in April, at the height of Singapore’s partial lockdown, and saw a 45-percent increase in the sale of wealth products in the first 10 days, compared with the 10 days. OCBC Bank has seen a positive response…
The bank said branch closures during the Covid-19 «circuit breaker» has diverted traffic from physical branches. A surge in the adoption of digital baking services is prompting OCBC to rethink its branch network strategy while providing an impetus for the…
Net profits at OCBC plunged 43 percent in the first quarter due to non-operating losses from its insurance arm and increased provisions most notably for oil-linked exposure. OCBC posted S$698 million ($494 million) in quarterly net profits – below analyst…
The bank will pay its final dividend of S$0.28 per share on June 5, after approval at the AGM. OCBC Bank will hold its annual general meeting on May 18 at 2 p.m. as a webcast or audio-only live stream, the bank said in a letter to shareholders. Shareholders…
The bank hopes to encourage more people to stay home and comes in support of stricter social distancing measures implemented by the government to contain the spread of Covid-19. OCBC Bank’s wholly-owned brokerage subsidiary, OCBC Securities, will temporarily…
The bank hopes to encourage more people to stay home and comes in support of stricter social distancing measures implemented by the government to contain the spread of Covid-19. OCBC Bank’s wholly-owned brokerage subsidiary, OCBC Securities, will temporarily…
His remuneration comprised a base salary of S$1.24 million, a bonus of $5.84 million, deferred shares worth S$3.89 million, and other benefits worth $102,000, but he donated more than half his base salary to charity. OCBC CEO Samuel Tsien’s pay for 2109 grew…
OCBC Bank has rolled out a cheque encashment service across all its next-generation ATMs at 23 branches, making it the first bank to offer such services in Southeast Asia. Recognizing that there are still segments of customers who require services like cheque…
