Retail News CRM

Tag: OCBC

  • Singapore’s Top Banks Hit Record Highs as DBS, OCBC and UOB Ascend Together

    Singapore’s Top Banks Hit Record Highs as DBS, OCBC and UOB Ascend Together

    In the latest trading session, Singapore’s three major banks, DBS, OCBC, and UOB, all witnessed record high closures. Spearheading gains on the Straits Times Index, OCBC saw a 3.3% rise, closing at S$26.34 (US$20.39). UOB climbed 2.9% to S$41.69, and DBS increased by 2.6%, closing at S$68.64.

    Bank Ratings Solidify Their Stance

    DBS was singled out as a preferred local bank in a recent research note by Citi. The choice was based on the bank’s strong dividend per share visibility and its position as a distinguished Asia wealth proxy. OCBC received a “buy” rating, with Citi concurring that the bank should continue its growth and lessen the return on equity gap with DBS.

    Contrarily, UOB maintained a “neutral” rating. The bank’s wealth and loan-growth trajectories reportedly trail those of its peers, while its earnings forecasts align strictly with market expectations.

    The Straits Times Index ended Tuesday with a 1.57% increase, closing at 5,342.240.

    Record Highs Continue to Rise

    On Wednesday, UOB reached a fifth consecutive record intraday high, increasing by 4.65% to S$43.63 by midday, after touching S$43.79 earlier in the session. DBS and OCBC also experienced growth, with DBS rising 1.5% to S$69.67 and OCBC climbing 2.9% to S$27.10.

    Investment bank Macquarie Capital upgraded DBS and UOB from “neutral” to “outperform.” The target price for DBS was raised from S$52.38 to S$70.86, and UOB’s target price increased from S$36.78 to S$45.16. Macquarie Capital also retained its “outperform” rating on OCBC, boosting its target price from S$24.25 to S$27.76.

    Jayden Vantarakis, head of Asean equity research at Macquarie Capital, suggested that further re-rating is still possible, supported by an improved sector outlook where both net interest income and non-interest income can grow simultaneously, whilst the Singapore dollar remains a preferred currency amidst broad U.S. dollar strength.

    Questions & Answers

    What led to the record high closures of Singapore’s three major banks?
    Dividend per share visibility and Asia wealth proxy positioning were among the reasons for the banks’ record high closures. Also, they are expected to maintain growth, and the Singapore dollar remains strong amidst broad U.S. dollar strength.

    How did Citi rate the three major banks?
    Citi gave DBS a preferred local bank pick with a “buy” rating. OCBC also received a “buy” rating, while UOB retained a “neutral” rating.

    What is the potential for further re-rating according to Macquarie Capital?
    Macquarie Capital suggests that further re-rating is still possible, supported by an improved sector outlook where net interest income and non-interest income are expected to grow simultaneously.

  • OCBC Leverages Rising Gold Demand, Launches Physical Gold Trading in Singapore

    OCBC Leverages Rising Gold Demand, Launches Physical Gold Trading in Singapore

    The Oversea-Chinese Banking Corporation (OCBC) in Singapore is broadening its precious metals sector by introducing physical gold trading and storage services for institutional investors and private banking clients. OCBC perceives an increasing demand for safe-haven assets as geopolitical and economic uncertainty heightens.

    Initiating from June 10, OCBC’s institutional clients and affluent clients of its private banking division, the Bank of Singapore, will be granted the opportunity to purchase, trade, and store physical gold via OCBC, with the entire trading and custodial process based in Singapore.

    Enhancing the Gold Franchise

    This decision signifies a considerable amplification of the bank’s gold franchise beyond its current paper gold offerings. The move comes as investors’ hunger for physical bullion continues to grow. According to OCBC’s reference to data from the World Gold Council, the global demand for gold bars in the first quarter of 2026 experienced a 50% surge compared to the previous year. The Bank of Singapore disclosed that client holdings of physical gold have witnessed an increase of more than 40% since the conclusion of 2025.

    OCBC has stated that the new service will initially provide two forms of bullion: large bars weighing roughly 400 troy ounces (12.4 kilograms) and one-kilogram bars, both allocated to clients and individually identifiable through serial numbers.

    The bank has indicated that client demand has progressively gravitated towards local custody arrangements. Previously, Bank of Singapore clients conducted transactions in physical gold via a U.S.-based entity. With the new arrangement, clients can carry out transactions and store bullion entirely within Singapore.

    Expansion of Wealth Management Strategy

    This introduction mirrors wider efforts by Singapore’s financial industry to fortify its stance as a regional precious-metals hub. OCBC expressed intentions to explore the extension of physical gold products and related hedging solutions to additional client segments over time.

    The move also forms part of OCBC’s more extensive wealth management strategy. Over the past few years, the group has continuously expanded its gold-related offerings across its banking, asset management, and insurance industries.

    Kenneth Lai, Head of Global Markets at OCBC, expressed that the bank perceives physical gold as a natural extension of its existing precious-metal capabilities and is planning to widen access to the offering over time.

    Questions & Answers

    What new services is OCBC introducing?
    OCBC is introducing physical gold trading and storage services for institutional investors and private banking clients.

    What does this expansion mean for OCBC’s existing services?
    This expansion signifies a considerable amplification of OCBC’s gold franchise beyond its current paper gold offerings.

    What is the impact of this move on Singapore’s financial industry?
    This introduction mirrors wider efforts by Singapore’s financial industry to fortify its stance as a regional precious-metals hub.

  • OCBC Joins Forces with Major Business Chambers to Boost China-ASEAN Trade

    OCBC Joins Forces with Major Business Chambers to Boost China-ASEAN Trade

    OCBC, Singapore’s second-largest bank, is amplifying its efforts to harness the expanding economic ties between Greater China and Southeast Asia. This new endeavor sees the bank forming a strategic partnership with two prominent business chambers, the Singapore Chinese Chamber of Commerce & Industry (SCCCI) and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME). This partnership aligns with OCBC’s recently announced corporate strategy, The Next Frontier. A crucial element of this strategy is the ‘Asia Shift’, which aims to boost trade and investment flows between ASEAN and Greater China.

    Riding the Intra-Asia Growth Trend

    OCBC’s strategic alliance combines the bank’s regional banking prowess with the expansive network of the CCCME, which involves more than 10,000 Chinese enterprises, and the SCCCI’s robust business connections across Southeast Asia.

    This initiative is in response to the continued expansion of Chinese companies into ASEAN markets. As per OCBC’s data, there was a 50 percent increase in 2025 in the number of new Chinese businesses the bank assisted in setting up operations in Southeast Asia. This significant rise follows a 30 percent growth in the preceding year.

    The cooperation agreement stipulates the support of small to mid-sized enterprises and corporations seeking cross-border trade and investment opportunities in both regions.

    Focus on Strategic Sectors

    The collaboration will be focused on industries predicted to fuel future growth. These include green technologies, sustainable development, digitalization, and advanced manufacturing. Additionally, the partners aim to reinforce trade and financing ecosystems that stimulate cross-border business activities.

    To manage this initiative, a joint coordination group will be set up. This group will be tasked with tracking progress and ensuring the successful execution of plans.

    Roy Tan, Head of Enterprise Banking International at OCBC, shared that Chinese enterprises have quickened their globalization pace in recent years, which necessitates robust on-the-ground assistance when penetrating new markets. The partnership will enable the bank to merge financing solutions with business matching and market-entry support. Tan believes this will enhance the efficiency of Chinese companies venturing into ASEAN while generating opportunities for businesses on both fronts.

    Singapore is positioning itself as a primary gateway for Chinese companies seeking expansion into Southeast Asia. This strategic move also aims to allow local businesses to take advantage of the escalating intra-Asian trade and investment flows.

    Questions & Answers

    What is the main goal of OCBC’s new partnership with SCCCI and CCCME?
    The partnership aims to capitalize on the growing economic ties between Greater China and Southeast Asia by supporting small to mid-sized enterprises and corporations seeking cross-border trade and investment opportunities.

    Which sectors will the collaboration focus on?
    The collaboration will focus on sectors expected to drive future growth, including green technologies, sustainable development, digitalization, and advanced manufacturing.

    How does this partnership align with Singapore’s position in the global market?
    The partnership aligns with Singapore’s efforts to fortify its role as a gateway for Chinese companies looking to expand into the ASEAN region, and to benefit local businesses from growing intra-Asian trade and investment flows.

  • OCBC Boosts Hong Kong Wealth Management Team by 30% Amid Rising Demand

    OCBC Boosts Hong Kong Wealth Management Team by 30% Amid Rising Demand

    The Oversea-Chinese Banking Corporation (OCBC) has announced plans to bolster its wealth-management staff in Hong Kong by 30% this year. This move is a strategic reaction to an increasing demand from its clientele for investment and financing services.

    Singapore’s second-largest financial institution aims to recruit an additional 30 to 50 relationship managers to its Hong Kong division, according to Josephine Lee, OCBC’s head of Hong Kong consumer financial services. The bank projects a significant increase in its wealth sector income, anticipating a five-fold jump since 2023. Furthermore, Lee disclosed the bank’s strategy to launch a novel array of services this year specifically aimed at clients with at least $1 million.

    OCBC’s wealth services portfolio has been a significant factor in boosting the bank’s profitability. The bank has surpassed projected profits for the first quarter, largely due to increasing fees related to wealth services. Furthermore, the demand for wealth accounts within Hong Kong has shown a marked increase from clients both within and outside the jurisdiction, primarily attracted by offerings such as financing. “We must enhance our pool of relationship managers to optimally serve our client base,” says Lee.

    The Greater China region, which includes Hong Kong, has been a significant income generator for OCBC, contributing 23% to the bank’s operating profit in the first quarter. This makes it the second-largest contributor, following Singapore, and shows a slight increase compared to the same period last year.

    Questions & Answers

    What is the anticipated increase in OCBC’s wealth-management staff in Hong Kong?
    The bank plans to increase its wealth-management staff in Hong Kong by 30% this year, which translates to an addition of 30 to 50 relationship managers.

    How significant has the wealth services portfolio been to OCBC’s profitability?
    The wealth services portfolio has played a major role in boosting the bank’s profitability, with the first quarter earnings surpassing estimates mainly due to increased fees related to these services.

    What proportion of OCBC’s operating profit was contributed by the Greater China region in the first quarter?
    The Greater China region, including Hong Kong, contributed 23% to the bank’s operating profit in the first quarter, making it the second-largest contributor after Singapore.

  • OCBC and Australia Aim to Double Trade and Investment in Southeast Asia by 2030: A New Strategic Partnership

    OCBC and Australia Aim to Double Trade and Investment in Southeast Asia by 2030: A New Strategic Partnership

    Overseas-Chinese Banking Corporation (OCBC) and the Australian High Commission in Singapore have recently launched a five-year strategic alliance aimed at fortifying trade and investment flow between Australia and Southeast Asia. The partnership is designed to considerably boost these economic currents by 2030, with OCBC setting their sights on a surge of over 200%.

    Focus on Key Sectors

    The strategic partnership aligns with Australia’s ambitious Southeast Asia Economic Strategy towards 2040, known as ‘Invested’. The focus of the collaboration will be on pivotal sectors such as energy transition, infrastructure, green transportation, fintech, and digital innovation.

    The cooperation brings together OCBC’s robust regional banking network and formidable financing ability, alongside the policy know-how of the Australian government. It also encompasses collaboration with various Australian departments including External Affairs and Trade, Export Finance and the Australian Trade and Investment Commission. This synergistic effort aims to pave the way for Australian companies to grasp lucrative opportunities sprouting across Southeast Asia.

    Celebrating its 40th anniversary of operation in Australia this year, OCBC reported significant growth in its Sydney branch in recent times. The surge in growth can be attributed to thriving sectors such as real estate, energy, utilities, and digital infrastructure.

    Creating Opportunities for Expansion

    Elaine Lam, Head of Global Corporate Banking at OCBC, expressed that the strategic collaboration is set to form a potent platform for Australian enterprises and investors looking to spread their wings into Southeast Asia. She identified burgeoning opportunities in the region, particularly in energy transition, infrastructure development, and green transportation.

    Notably, big Australian players like Lendlease and Qantas are among the companies supported by OCBC. The bank has recently provided backing for Qantas’ fleet renewal financing programme and has also lent support to several Lendlease developments situated in Singapore, Sydney, and Kuala Lumpur.

    Questions & Answers

    What is the goal of the strategic partnership between OCBC and the Australian High Commission in Singapore?

    The partnership aims to substantially enhance trade and investment flows between Australia and Southeast Asia by 2030.

    What sectors will the cooperation focus on?

    Key sectors encompass energy transition, infrastructure, green transportation, fintech, and digital innovation.

    Which Australian companies are currently supported by OCBC?

    OCBC is currently backing major Australian companies such as Lendlease and Qantas.

  • OCBC Posts 5% Surge in Q1 Profits, Bolstered by Wealth Management and High Fees

    OCBC Posts 5% Surge in Q1 Profits, Bolstered by Wealth Management and High Fees

    In the first quarter, the Oversea-Chinese Banking Corporation Limited (OCBC) experienced a decline in its net interest income. However, this was counterbalanced by increases in wealth-led gains and higher fees, resulting in an overall rise in total income.

    Financial Performance Overview

    OCBC reported a 5% increase in net profit for Q1, largely attributed to robust performance in its wealth management and insurance sectors. This helped offset the impact of falling interest rates. The bank, based in Singapore, saw its net profit increase to S$1.97 billion in the three months leading up to March 31, marking 13% growth from the previous quarter and up from S$1.88 billion in the equivalent period a year earlier. The total income also experienced an upward trend, reaching an all-time high of S$3.83 billion, a 5% annual increase.

    Non-interest income, a key driver of these results, also saw record figures. It witnessed a 23% surge, amounting to S$1.61 billion, and made up over 40% of the total income. This growth was spread across various operations including fees, trading, and insurance.

    Revenue Streams: Wealth Management and Lending

    Wealth management was a significant contributor to OCBC’s revenue. Income from this sector grew by 11% to S$1.48 billion, and assets under management in banking wealth management rose by 12%, reaching S$342 billion. This growth was facilitated by net new money inflows across all customer segments.

    Net fee income also saw considerable growth, up 24% to S$675 million. This was stimulated by a 34% increase in wealth management fees, fueled by a rise in customer investment activity across private banking, premier banking, and other wealth channels. Other areas that showed improvement were investment banking, trade-related, and loan-related fees. Trading income saw a rise of 10% to S$434 million, spurred on by strong customer flow income amid sustained wealth-related activity and heightened hedging demand from corporate clients.

    However, the bank also faced challenges in the form of pressure on its lending margins due to falling interest rates. Net interest income fell by 5% to S$2.22 billion, and net interest margin contracted to 1.76% from 2.04% in the previous year.

    Despite these challenges and a 6% increase in operating expenses to S$1.50 billion, mainly due to higher staff costs and continuous investment in technology infrastructure, OCBC managed to maintain a cost-to-income ratio below 40%, at 39.3%.

    Questions & Answers

    What were the major contributors to OCBC’s growth in the first quarter?
    Wealth management was a key factor, with an 11% income increase. There were also broad-based increases in non-interest income, which rose 23%.

    What challenges did OCBC face in the first quarter?
    The bank experienced pressure on its lending margins due to declining interest rates, which caused a 5% fall in net interest income.

    Did OCBC manage to maintain financial stability despite these challenges?
    Yes, although it faced some challenges, OCBC maintained a stable asset quality and a prudent approach to provisioning. The bank’s strong capital, funding, and liquidity position has left it well-equipped to pursue growth opportunities amidst ongoing economic uncertainties.

  • OCBC Bolsters Southeast Asia Presence with Major Acquisition from HSBC Indonesia’s Retail Banking Business

    OCBC Bolsters Southeast Asia Presence with Major Acquisition from HSBC Indonesia’s Retail Banking Business

    In a strategic move to bolster its foothold in Southeast Asia’s most significant economy, OCBC has entered into an agreement to procure HSBC’s retail banking and wealth management operations based in Indonesia.

    The Acquisition Details

    OCBC’s Indonesian subsidiary will take over the International Wealth and Premier Banking (IWPB) business of HSBC Indonesia, which includes its assets and liabilities. This acquisition will introduce approximately 336,000 customers to OCBC’s clientele, along with S$6.6 billion (US$4.9 billion) in assets under management (AUM).

    The transaction comprises customer deposits, investment products like mutual funds, bonds, and insurance, in addition to credit cards and retail loans. Furthermore, a small loan book amounting to roughly S$0.3 billion is also set to be transferred.

    OCBC has stated that the ultimate purchase price will be contingent on the net asset value of the business at the time of completion, along with a possible premium of up to S$0.48 billion, subjected to necessary adjustments. The deal is anticipated to be concluded by the second quarter of 2027, with the major bank planning to fund it internally.

    Strategic Expansion in Indonesia

    The purchase plays a significant role in OCBC’s broader scheme to enhance its wealth management prowess and deepen its roots in Indonesia, a critical growth market for the bank.

    OCBC highlighted the significance of IWPB Indonesia, stating it as one of the country’s largest foreign-owned retail banking and wealth platforms. The business currently operates through a network of 261 branches and has garnered widespread recognition in the wealth management sector.

    The completion of the deal is projected to elevate OCBC Indonesia’s AUM by approximately 25% and multiply its credit card balances by over 150%. It will also add an estimated 1,300 employees to its existing workforce.

    In the words of Group CEO Tan Teck Long, the acquisition is in line with the bank’s ‘Next Frontier’ strategy, which emphasizes enlarging its regional franchise and fostering growth in its wealth business.

    Questions & Answers

    What is the projected impact of the acquisition on OCBC Indonesia’s AUM and credit card balances?
    With the completion of the deal, OCBC Indonesia’s AUM is expected to increase by about 25%, and its credit card balances are anticipated to rise by more than 150%.

    What components of HSBC Indonesia are included in the transaction?
    The transaction involves customer deposits, investment products, credit cards, and retail loans from HSBC Indonesia. Additionally, a small loan book worth roughly S$0.3 billion will also be transferred.

    When is the deal expected to be finalized, and how will it be funded?
    The acquisition is planned to be concluded by the second quarter of 2027, with OCBC intending to finance it internally.

  • Southeast Asia’s First Tokenized Gold Fund: OCBC Launches GOLDX Token on Ethereum and Solana Blockchains

    Southeast Asia’s First Tokenized Gold Fund: OCBC Launches GOLDX Token on Ethereum and Solana Blockchains

    OCBC, in collaboration with its asset management arm, Lion Global Investors, and digital asset exchange DigiFT, have recently introduced the OCBC-LionGlobal Physical Gold Fund Token (GOLDX token). Notably, this is Southeast Asia’s first tokenised physical gold fund that is accessible on a public blockchain. The GOLDX token is issued on two different blockchains – Ethereum and Solana.

    Investing in GOLDX Tokens

    The new DigiFT platform allows various institutional investors, such as banks, hedge funds, and asset managers, as well as accredited corporate investors, to subscribe to the GOLDX token. They can do this using either stablecoins or fiat currencies. As per the statement, these tokens will be directly delivered to the investors’ blockchain wallets. They can then be redeemed for either stablecoins or fiat currencies.

    Regulatory Framework and Assurance

    The issuance of the GOLDX token is regulated, and the process is anchored by three entities which are regulated by the Monetary Authority of Singapore (MAS), namely OCBC, Lion Global Investors, and DigiFT. Together, these entities provide strong governance, institutional-grade risk management controls, and transparent, verifiable asset backing. Thus, investors can be assured of the safety of their investment while still reaping the benefits of the efficiency and interoperability that are inherent to public-blockchain-based RWAs.

    Exposure to Gold Fund Performance

    The GOLDX token provides regulated, on-chain exposure to the LionGlobal Singapore Physical Gold Fund (Underlying Fund) that is managed by Lion Global Investors. Amid the ongoing geopolitical and economic uncertainties, the Underlying Fund has shown immense growth, with S$669.4 million (US$525.9 million) in assets under management as of 16 April 2026, only four months after its inception.

    OCBC’s Role in the GOLDX Token

    OCBC was the originator of the GOLDX token’s issuance and led its structuring, shaping the product architecture and commercial framework. The bank collaborated with DigiFT to facilitate the tokenisation and digital distribution of the token. Simultaneously, Lion Global Investors supplied the necessary investment framework and governance for the Underlying Fund.

    Prospective Demand

    The GOLDX token is anticipated to attract significant demand from participants within the Web3 ecosystem, including family offices and high-net-worth individuals operating within decentralized, blockchain-based environments. This group possesses considerable capital in stablecoins in Asia, much of which is currently unutilised.

    Questions & Answers

    What is the GOLDX token?
    The GOLDX token is Southeast Asia’s first tokenised physical gold fund available on a public blockchain. It is issued on both the Ethereum and Solana blockchains.

    Who can invest in the GOLDX token?
    The DigiFT platform allows various institutional investors, such as banks, hedge funds, asset managers, as well as accredited corporate investors to subscribe to the GOLDX token using either stablecoins or fiat currencies.

    How is the issuance of the GOLDX token regulated?
    The issuance of the GOLDX token is regulated by three entities which are governed by the Monetary Authority of Singapore (MAS): OCBC, Lion Global Investors, and DigiFT. This ensures strong governance and transparency, offering assurance to investors.

  • Great Eastern Unveils Exclusive High Net Worth Services: Tailored Insurance and Elite Lifestyle Perks

    Great Eastern Unveils Exclusive High Net Worth Services: Tailored Insurance and Elite Lifestyle Perks

    Great Eastern, the insurance division of OCBC, has introduced a new service tailored specifically for high net worth (HNW) individuals and families across Asia.

    Great Eastern Private: A Tailored Experience

    The newly unveiled proposition is named Great Eastern Private. This service aims to bring together custom-designed HNW insurance solutions with a curated panel of expert advice and services spanning seven spheres. These domains encompass next-generation leadership, family advisory and trust services, health and longevity, international tax advisory, legal advisory, philanthropy, and global lifestyle concierge.

    In collaboration with Singapore Management University Executive Development, Great Eastern will conduct a cross-generational family program. This initiative will provide a platform for founders and family members to delve into topics like values, enterprise continuity, leadership transition, and long-term legacy.

    The Hewton Fair Suite: An Exclusive Offering

    Great Eastern is also offering HNW clients access to an exclusive area dubbed the Hewton Fair Suite, a nod to the company’s founder Alfred Hewton Fair. This premium space will feature on-site medical services in collaboration with Raffles Medical Group.

    CEO of Great Eastern, Greg Hingston, commented on the new proposition. He noted that as clients successfully amass wealth, the focus is now shifting to the careful and effective preservation and transfer of wealth. Great Eastern Private, he said, is a strategic move to invest in capabilities and services that meet this evolving customer need. He also affirmed the company’s commitment to remain the trusted insurance partner of customers throughout all life stages and generations.

    Questions & Answers

    What is the Great Eastern Private proposition?
    Great Eastern Private is a new service introduced by Great Eastern, the insurance arm of OCBC, designed specifically for high net worth individuals and families. It offers tailored insurance solutions and curated expert services across various domains.

    What are some of the services offered as part of Great Eastern Private?
    Services offered under Great Eastern Private encompass next-generation leadership, family advisory and trust services, health and longevity, international tax advisory, legal advisory, philanthropy, and global lifestyle concierge.

    What is the Hewton Fair Suite?
    The Hewton Fair Suite is an exclusive area offered to high net worth clients utilizing the Great Eastern Private service. It includes on-site medical services provided in partnership with Raffles Medical Group.

  • OCBC Overcomes Interest Income Dip with Diversified Revenue: Unveils ‘The Next Frontier’ Strategy

    OCBC Overcomes Interest Income Dip with Diversified Revenue: Unveils ‘The Next Frontier’ Strategy

    Despite experiencing a slight dip in interest income, Singapore’s OCBC managed to maintain a relatively static profit, thanks to diverse revenue sources.

    Financial Performance

    OCBC recorded a net profit of S$7.4 billion ($5.9 billion) in 2025, marking a 2 percent decrease compared to the previous year’s record of S$7.6 billion. The bank’s income, however, reached an unprecedented level of S$14.6 billion. This rise can be attributed to a 16 percent increase in non-interest income, which was seen across all sectors including fees, commissions, trades, and insurance (both life and general). Operating expenses saw a slight increase of 2 percent, rising to S$5.9 billion, primarily due to increases in staff and IT-related costs.

    The Next Frontier

    OCBC CEO Tan Teck Long, who took over from Helen Wong on January 1, acknowledged the bank’s completion of its previous three-year plan, which brought about “commendable progress.” Under this plan, the bank managed to unify its brand across its core markets, leading to enhanced synergies through a unified-group approach.

    OCBC has now initiated its new strategy, aptly named “The Next Frontier.” The bank aims to improve return on equity through a stronger focus on high-returning businesses, while maintaining cost discipline. The goal is to achieve a cost-income ratio in the low to mid 40 percent range.

    This strategy, according to CEO Tan, equips the bank with the necessary tools to compete and succeed in the next growth phase. This includes tapping into rising Asian markets, enhancing core market franchise, advancing technology-led and customer-centric capabilities through AI, Digital, and Data, and continuing to support green transitions.

    Despite geopolitical tensions, evolving trade dynamics, and interest rate uncertainties, Tan remains “cautiously optimistic” about the future. He believes that the bank’s robust balance sheet, prudent risk management, and diversified growth engines will allow it to successfully navigate these challenging conditions and deliver sustainable, long-term value.

    Questions & Answers

    What was OCBC’s net profit for 2025?
    OCBC recorded a net profit of S$7.4 billion ($5.9 billion) in 2025.

    What is OCBC’s new strategy and what does it aim to achieve?
    OCBC’s new strategy is titled “The Next Frontier.” It aims to improve return on equity through a stronger focus on high-returning businesses and maintaining cost discipline with a goal to attain a cost-income ratio in the low to mid 40 percent range.

    What are the bank’s views on the upcoming market conditions?
    CEO Tan Teck Long remains cautiously optimistic about the future. He believes that despite geopolitical tensions, evolving trade dynamics, and interest rate uncertainties, the bank, with its robust balance sheet, prudent risk management, and diversified growth engines, is well positioned to navigate these challenges and deliver sustainable, long-term value.

  • OCBC Pioneers New Securities Financing Division to Optimize Lending Solutions

    OCBC Pioneers New Securities Financing Division to Optimize Lending Solutions

    Singapore’s OCBC Bank has established a new division that is committed to providing loans against idle securities in customer accounts.

    Enabling Efficient Use of Idle Securities

    OCBC Bank has introduced a dedicated securities financing unit that will operate within the global markets division. This unit’s main function will be to activate lendable securities like equities and fixed income, which are held by customers of OCBC Bank and its affiliate businesses OCBC Securities, Bank of Singapore, and Great Eastern.

    The financing unit will be under the leadership of Jansen Chua, the newly appointed head of securities finance. Chua, who officially joined the bank on January 2, will directly report to Kenneth Lai, the head of global markets.

    Chua brings to the table 25 years of international experience spanning across the United States, Europe, Middle East, Africa, and the Asia Pacific. His most recent role was at State Street Bank & Trust Company, where he was the senior managing director and head of financing solutions for the Asia Pacific region. He has led teams in trading, sales, customer management, and product development.

    The Increasing Demand for Securities Financing

    Globally, there has been a noticeable increase in the demand for securities financing. More and more buy-side firms are looking for ways to optimize liquidity, fulfill collateral requirements, and put in place hedging strategies in fluctuating markets.

    In 2025, global securities lending revenues hit an all-time high of $15.3 billion, according to EquiLend Data & Analytics.

    Accessing liquidity and effectively deploying capital has become crucial, especially given the current high market volatility. As a result, securities financing has become increasingly important, and there has been a correspondingly significant rise in demand from institutional customers, according to Lai.

    With Chua’s leadership, the bank is well-positioned to assist its customers as they implement trading and hedging strategies, meet settlement obligations, and optimize capital usage.

    Questions & Answers

    What is the purpose of the new securities financing unit?

    The new unit has been established to mobilize lendable securities such as equities and fixed income held by customers, allowing for lending against these idle securities.

    Who will lead the new securities financing unit?

    The unit will be under the leadership of Jansen Chua, the head of securities finance at OCBC.

    What factors have contributed to the increased demand for securities financing?

    The growing demand is largely due to buy-side firms seeking to optimize liquidity, meet collateral obligations, and implement effective hedging strategies amidst volatile market conditions.

  • From OCBC to BOS: Collins Chin Steps Up as New Chief Financial Officer

    From OCBC to BOS: Collins Chin Steps Up as New Chief Financial Officer

    The former OCBC investor relations head has taken on a new role as the chief financial officer at the Bank of Singapore.

    New Appointment

    Collins Chin has been appointed as the new global chief financial officer at the Bank of Singapore, taking effect immediately. In addition to this position, he will also join the bank’s global management committee. As the chief financial officer, he will report directly to the bank’s CEO, Jason Moo.

    Chin is no stranger to the banking sector. His most recent role was the head of investor relations at OCBC, which is also the parent company of the Bank of Singapore. Before joining the Singaporean bank in 2009, he occupied various leadership roles across finance, capital markets, and risk functions in multiple major banks. These include the Royal Bank of Scotland, Standard Chartered Bank, and Barclays Capital.

    Leadership Skills and Experience

    Chin is recognized as a strong leader who possesses an innovative and future-oriented mindset. His vast experience, along with his excellent people management skills, equips him well to lead the Bank of Singapore. As the bank strives towards its ambitious targets, Chin’s leadership will play a crucial role in steering the bank forward.

    CEO Jason Moo expressed his confidence in Chin’s abilities, praising him as a highly regarded and strong leader. Moo believes that Chin’s extensive experience, coupled with his remarkable people management skills, will be instrumental in pursuing the bank’s ambitious goals.

    Questions & Answers

    Who has been appointed as the new global chief financial officer at the Bank of Singapore?
    Collins Chin, the former head of investor relations at OCBC, has been appointed as the new global chief financial officer at the Bank of Singapore.

    What are some of the roles Collins Chin held before joining the Bank of Singapore?
    Before joining the Bank of Singapore, Collins Chin held various regional leadership roles at the Royal Bank of Scotland, Standard Chartered Bank, and Barclays Capital.

    What qualities does Collins Chin bring to his new role at the Bank of Singapore?
    Chin is recognized for his strong leadership, forward-looking mindset, and extensive experience in the banking sector. He also possesses strong people management skills. These qualities make him well-suited to steer the Bank of Singapore towards achieving its ambitious goals.

  • OCBC Leads the Charge in QR Payments Integration, Dominating China’s Scan-and-Pay Market

    OCBC Leads the Charge in QR Payments Integration, Dominating China’s Scan-and-Pay Market

    OCBC Bank is set to be the first Singaporean financial institution to allow customers to scan and pay every major merchant QR code in Mainland China via its Singapore mobile banking application. This innovation is a significant leap in the integration of cross-border payments.

    Positioning for the Future

    This strategic move places OCBC in a strong position to tap into the increasing travel and expenditure flows into China, where QR code transactions are commonplace. The additional functionality is a result of an extended collaboration with UnionPay International, formalized in Shanghai on November 28, 2025.

    Streamlining Payments for Travellers

    The OCBC application will take advantage of NETS infrastructure to facilitate payments to vendors that accept Weixin Pay, also known as WeChat Pay, augmenting its current support for Alipay+ and UnionPay QR. The Weixin Pay feature will be rolled out in the first quarter of 2026.

    The upgrade offers OCBC Singapore clients a seamless experience within one of the globe’s most cashless economies. Users can effortlessly scan any Weixin Pay, Alipay+, or UnionPay merchant QR code and have the payment directly deducted from their OCBC accounts.

    Surge in Strategic Opportunity

    The update spares customers the inconvenience of downloading separate applications, refilling digital wallets, or standing in line for currency exchange. Instead, they can enjoy competitive real-time exchange rates and no additional charges.

    The Scan & Pay feature of OCBC is experiencing substantial growth. Payment volumes have increased by eleven percent year-on-year, with active users up by 67 percent. Mainland China has become the top destination for these transactions, which are frequently used for dining, sightseeing, and retail shopping, including duty-free products and jewelry.

    Travel Demand on the Rise

    The bank’s expanded QR acceptance aligns with the escalating travel demand. The number of arrivals from Singapore to Mainland China more than doubled in 2024, rising from 260,000 in 2023 to a projected 535,000, according to Oxford Economics.

    Questions & Answers

    What does this move mean for OCBC?
    By enabling customers to scan and pay every major merchant QR code in Mainland China, OCBC positions itself to capture increasing travel and spending flows into China, where QR code transactions dominate.

    How does this change benefit OCBC clients?
    The enhancement removes obstacles from one of the world’s most cashless ecosystems. Users can simply scan any Weixin Pay, Alipay+ or UnionPay merchant QR code and have payments debited directly from their OCBC accounts.

    How does OCBC’s Scan & Pay feature perform?
    OCBC’s Scan & Pay feature has seen robust growth, with payment volumes up eleven percent year-on-year and active users up 67 percent.

  • OCBC Revolutionizes Digital Banking: Integrates Top Southeast Asian Wallets, Targets 2.72 Billion User Base

    OCBC Revolutionizes Digital Banking: Integrates Top Southeast Asian Wallets, Targets 2.72 Billion User Base

    Singapore’s OCBC bank has significantly advanced its position in the regional payments sector by incorporating eight major Southeast Asian digital wallets into its banking app. This move has established the most inclusive bank-to-wallet ecosystem in the region, according to the bank.

    The decision, facilitated by an expanded partnership with Visa, is designed to simplify remittances, reduce expenses, and bring countless unbanked consumers closer to digital financial services. Now, OCBC customers in Singapore can directly transfer money to top wallets in Indonesia, Malaysia, the Philippines, and Vietnam.

    The recently integrated wallets include the Philippines-based Coins and GCash, Indonesia’s GoPay, LinkAja, and Ovo, Vietnam’s Momo, the Philippines’ PayMaya, and Malaysia’s Touch ‘n Go. This addition builds upon the previous year’s integration of Weixin Pay and Alipay, bringing the total number of wallets to ten. Collectively, these wallets represent a user base of nearly 2.72 billion.

    Addressing the Needs of Singapore’s Foreign Workforce

    This improvement directly tackles the most significant challenges in conventional remittances, namely speed, cost, and accessibility. OCBC points out that a large number of foreign workers still depend on cash agents or manual transfers.

    Through bank-to-wallet connectivity, either the workers or their employers can send funds instantly and without any fees, even if the recipients do not have a bank account or access to physical branches. OCBC anticipates high adoption rates among Singapore’s 1.6 million foreign workers.

    Initial Success: Quadrupled Transfers to China

    OCBC introduced wallet transfers to China a year ago and has since processed more than S$60 million through this feature. Cross-border transfers to China have increased fourfold, with 90% of users avoiding branch visits. Three-quarters of these users are PMETs, primarily Chinese nationals sending money home. This initial success set the groundwork for the current broader rollout across Southeast Asia.

    Visa Partnership to Expand Global Reach

    The expanded capabilities have been made possible by Visa Direct, which links nearly 11 billion endpoints worldwide, including over 3.5 billion digital wallets. According to Adeline Kim, Visa’s Singapore country manager, Visa Direct is helping to “bridge financial gaps”. Moreover, six out of ten Singaporean remittance users anticipate maintaining or increasing their overseas transfers this year.

    OCBC’s Global Ambitions

    Sunny Quek, OCBC’s head of global consumer financial services, has said that the bank is making good on its promise to extend beyond China. He said that “By connecting OCBC accounts to eight of Southeast Asia’s most popular wallets, we are removing friction from cross-border payments and making remittances faster, cheaper, and more inclusive.”

    He further revealed OCBC’s long-term plan to connect its customers to 50 wallets globally, which would make its app “the most comprehensive wallet access of any banking app”.

    Boosting OCBC’s Regional Digital Presence

    This development further solidifies OCBC’s standing as a leading regional financial institution. As one of the world’s most highly-rated banks and one of the largest financial groups in Southeast Asia, OCBC continues to invest in consumer banking innovation in the face of growing competition in the digital payments and fintech landscapes.

    Questions & Answers

    What new capabilities has OCBC Bank added to its banking app?
    OCBC has integrated eight major Southeast Asian digital wallets into its banking app, facilitating direct money transfers to top wallets in Indonesia, Malaysia, the Philippines, and Vietnam.

    What are the benefits of this integration for OCBC customers?
    This integration simplifies remittances, reduces costs, and allows for the instant and fee-free transfer of funds – even if the recipients don’t have a bank account or access to physical branches.

    What is OCBC’s long-term vision for its banking app?
    OCBC aims to connect its customers to 50 wallets globally, with the goal of offering the most comprehensive wallet access of any banking app.

  • OCBC Enhances Customer Security with Innovative In-App Calling Feature to Combat Rising Fraud

    OCBC Enhances Customer Security with Innovative In-App Calling Feature to Combat Rising Fraud

    Singapore’s OCBC bank is set to introduce a secure in-app calling feature across its retail and business banking platforms. This move comes as a response to a significant increase in scams involving impersonation and a decreasing faith in traditional phone-based verification systems.

    Introducing In-App Calls

    OCBC’s new in-app calling feature will be incorporated into its digital banking apps. This feature offers customers a safer, more convenient way of contacting the bank’s customer service center, particularly for those travelling overseas. Users will be able to avoid international dialing charges thanks to this feature.

    The feature will be made progressively available to retail customers starting November 2025, following its initial rollout to corporate users via the OCBC Business app in June 2025. This development is highly relevant considering the bank handles over 8,000 calls from overseas customers each month.

    Moving Away from SMS OTPs

    As the entire industry begins to shift away from SMS One-Time Passwords (OTP), OCBC recognizes the increasing threats posed by scammers who exploit phishing techniques and social engineering attacks. The availability of personal data online has also compromised the effectiveness of traditional security questions.

    To provide a more secure communication channel, OCBC will route calls directly through its authenticated app environment. This environment is secured using biometrics or access credentials and a digital or hard token. Security questions will only be used for high-risk transactions.

    Expansion to Outbound In-App Calls

    OCBC plans to extend the in-app calling feature to outbound calls by the first half of 2026. This will allow contact center and anti-fraud teams to connect with both retail and business customers via the secure app environment.

    Impersonation scams have become a significant concern in Singapore, especially those involving government officials. The use of in-app calls can help users distinguish between legitimate outreach and fraudulent calls as they are significantly more challenging for scammers to mimic.

    Enhancing OCBC’s Digital Security Framework

    The introduction of the in-app calling feature is part of OCBC’s wider strategy to bolster trust and safety in digital banking. This strategy spans across retail, SME, and corporate segments.

    As scams become more sophisticated and tactics more inventive, banks in Singapore are speeding up their transition away from vulnerable verification methods. They are working towards strengthening secure, app-based ecosystems to ensure customer safety and trust.

    Questions & Answers

    What is the purpose of OCBC’s new in-app calling feature?
    The new in-app calling feature is designed to provide customers with a safer and more convenient way to contact the bank’s customer service center, particularly for those travelling overseas.

    When will the in-app calling feature be available to retail customers?
    The in-app calling feature will be made progressively available to retail customers starting from November 2025.

    How does the in-app calling feature enhance security?
    The in-app calling feature enhances security by routing calls directly through an authenticated app environment, secured using biometrics or access credentials and a digital or hard token. Security questions will only be used for high-risk transactions.