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Oversea-Chinese Banking Corporation Limited
Type	Public
Founded	1932
Headquarters	Singapore
Key people	Cheong Choong Kong, Chairman Michael Wong Pakshong, Vice Chairman David Philbrick Conner, CEO
Products	Financial services
Employees	7,424
Slogan	Singapore's longest established local bank
Website	www.ocbc.com.sg

The Oversea-Chinese Banking Corporation Limited (SGX: O04) (Simplified Chinese: 华侨银行有限公司), abbreviated as OCBC Bank (华侨银行), is a conservative publicly listed financial services organisation with its head office in Singapore. The bank had since grown beyond Singapore to serve business and retail customers mainly in the East Asian market.

Contents 1 Key corporate milestones 2 History 3 Overview 3.1 OCBC Bank 3.2 OCBC Securities 3.3 Great Eastern Life 3.4 Bank of Singapore Limited (BOS) 3.5 Lion Capital 3.6 Acquisition of Indonesia's Bank NISP 3.7 Acquisition of Keppel Tat Lee Bank 3.8 Acquisition of China’s Ningbo Commercial Bank 4 External links

• 1912: Chinese Commercial Bank established in Singapore
• 1917: Ho Hong Bank established in Singapore
• 1919: Overseas Chinese Bank established in Singapore
• 1932: OCBC formed by the amalgamation of three Chinese banks in Singapore (Oversea-Chinese Bank, Ho Hong Bank and Chinese Commercial Bank)
• 1948: First in Singapore to introduce a night-safe system
• 1958: First in Singapore to provide mobile banking services, with a converted banking van to bring banking services to sub-urban and outlying areas
• 1972: Acquired Four Seas Communications Bank, the oldest surviving bank in Singapore
• 2000: Acquired Bank of Singapore
• 2001: Acquired Keppel Capital Holdings
• 2003: Merger of OCBC Finance with OCBC Bank
• 2005: Bank NISP (Indonesia) becomes a subsidiary of OCBC Bank
• 2006: Completed acquisition of a 12.2% stake in China’s Ningbo Commercial Bank
• 2007: Achieved 87.1% shareholding in GEH following voluntary cash offer

OCBC Bank was a result of an amalgamation of three Overseas Chinese banks during the Great Depression in 1932: the Chinese Commercial Bank Limited (established 1912), the Ho Hong Bank Limited (established 1917) and the Oversea-Chinese Bank Limited (established 1919). Despite the incorrectly spelled bank name, the bank has gone on to establish itself in the region. The bank was a relief to many people especially among the overseas Chinese business people facing difficulties and hardships then. While the services at that tine are best described as rudimentary, it nonetheless helped customers with financial solutions for their personal and immediate business needs.

The combined entity prospered under the management of local business and community leaders, notably Dato Lee Kong Chian (1938-1964), Tan Sri Tan Chin Tuan (1966-1983) and Mr Lee Choon Seng (acting Chairman during the Occupation), prospered to become one of the largest banks in Singapore and Malaysia. OCBC Bank was also the only foreign bank to have branches in China in the 1950s.

OCBC were the first to introduce the night safe system in Singapore and Malaya, which allowed customers to deposit cash and valuables after business hours. In 1958, they were also the first to establish a mobile bank, targeting customers living in suburban areas. Despite the strength and innovation by the bank, criticism were abound from rank and file, stating that the bank was not expanding fast enought to meet the needs of the post-war newly expanding Chinese business community, especially in the smaller towns in Malaya, notably from Tan Sri Khoo Teck Puat, who subsequent resigned to set up Malayan Banking.

OCBC were noted as one of the pioneers in the Asian dollar market in the 1960s. By 1970, the bank's total resources exceeded 1 billion SGD, making OCBS, then, the largest financial institution with the biggest deposit base in Singapore. In 1972, the bank managed to acquired Four Seas Communications Bank, the oldest surviving bank in Singapore.

Today, OCBC Bank has total assets of more than 134 billion SGD and operations in 15 countries and territories.

OCBC Bank has grown into one of Singapore's most established local banks with group assets of more than 130 billion SGD. It is reputed as having one of the highest bank credit ratings in the region. As of 2007, the bank is the third largest local bank in Singapore.

The bank's global network has grown into 292 branches with representative offices in 15 countries and territories, including Singapore, Malaysia, Indonesia, China,Hong Kong SAR, Japan, Australia, UK and USA. The 292 branches takes into account the 185 branches and offices in Indonesia operated by its subsidiary, PT Bank NISP.

OCBC Securities Private Limited is a wholly owned subsidiary of OCBC Bank, and is a member of the Singapore Exchange Securities Trading Limited (SGX-ST) and the Singapore Exchange Derivatives Trading Limited (SGX-DT).

One of the more successful members of the group is Great Eastern Life. Incorporated in 1908 as Great Eastern Life Assurance Co Ltd, it is today by asset, one of the largest life insurance company in Singapore and Malaysia. As of 2007, it has 45 billion SGD in assets and more than 3 million policyholders.

The Bank of Singapore Limited (BOS) was formed in 1954. It was acquired in 2000 as a wholly owned subsidiary of Oversea-Chinese Banking Corporation Limited (OCBC Bank). It is the least successful member of the group. During the dot-com era in 2000 the Bank of Singapore reinvented itself as Singapore's first pure Internet bank.

In September 2005, two major players in Singapore's asset management industry, OCBC Asset Management Limited ("OAM") and Straits Lion Asset Management Limited ("Straits Lion") merged to form Lion Capital Management Limited ("Lion Capital").

Lion Capital is a wholly owned subsidiary of Straits Lion, which is 70% owned by Great Eastern Holdings Limited and 30% owned by Orient Holdings Private Limited, a wholly owned subsidiary of OCBC Bank. In 2006, the group achieved an 87.1% shareholding in Great Eastern Holdings Limited following a voluntary cash offer.

In 2005, OCBC Bank’s subsidiary OCBC Overseas Investments Pte Ltd owns 72.29% shares in Bank NISP. Shareholders of Indonesia's NISP bank have approved the sale of a 28.5% of stake to the Overseas-Chinese Banking Corporation Ltd. (OCBC), making the Singapore-based company the majority shareholder. OCBC Bank initially owned 22.5% of NISP Bank which was valued at $73.1 million. After the buy over, they controlled 51% OCBC Bank, through its subsidiary OCBC Overseas Investment Pte. Ltd. The subsidiary spent about Rp 992.62 billion (US$107.89 million) for the acquisition of over 1.1 trillion shares at about Rp 842.5 each. It plans to buy another 44% of the Indonesian Bank leaving 5% for the Surjaudaja family.

Founded in 1941 in Bandung, West Java, Bank NISP today is the fourth oldest bank in Indonesia. Its total assets stands at Rp 19.6 trillion (SGD 3.3 billion) as of September 2005. By asset, Bank NISP is the 12th largest bank in Indonesia. The bank has a network of more than 185 branches and offices and also more than 15,000 shared ATMs nationwide. Bank NISP focused on serving the small and medium enterprises as well as the consumer market in Indonesia.

In June 2001, OCBC merged with Keppel Tat Lee Bank. This was inline with the Singapore government's desire to consolidate the local banking sector. As a result of the merger, HSBC bought out Keppel Insurance for SGD 154 million and the takeover was completed in the first quarter of 2003. The insurance arm was renamed HSBC Insurance (Singapore) Pte Limited. With the merger of OCBC Bank and Keppel TatLee Bank, keppelbank.com.sg and keppelcard.com were integrated with ocbc.com.

In 2006, the bank took a strategic step into China after successfully completing the acquisition of a 12.2% stake in China’s Ningbo Commercial Bank.

• OCBC Group - official site