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Oversea-Chinese Banking Corporation Limited, abbreviated as OCBC Bank, is a publicly noted financial services organisation with its head office in Singapore. The “Oversea-Chinese” use leads numerous to think mistakenly that the bank’s name is misspelled, but this is the proper traditional spelling. OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and offices
OCBC’s Indonesia subsidiary, Bank OCBC NISP, has 630 branches and offices
In 1932, 3 banks– Chinese Commercial Bank (1912), Ho Hong Bank (1917), and Oversea-Chinese Bank (1919), merged to form Oversea-Chinese Banking Corporation under the leadership of Tan Ean Kiam and Lee Kong Chian. In the subsequent years, the bank expanded its operations and ended up being the largest bank in South East Asia.
Based on January 1, 1877 as the Post Office Savings Bank (POSB), the bank became part of the Postal Solutions Department in the Straits Settlements and was established by the colonial government to supply banking services for lower-income citizens.Headquartered in the General Post Office Building, in Raffles Place, the bank was under the jurisdiction of the Postmaster-General, with bank policies supervised by a group of trustees designated by the Guv of the Straits Settlement. From 1877 to 1940, the bank had a consistent growth of accounts opened increasing from 211 to 57,000 while total deposits increased from 19,862 to 14.3 million Straits dollars during the exact same duration.
United Overseas Bank Limited (commonly known as UOB) is a Singaporean multinational banking organisation headquartered in Singapore, with branches primarily discovered in most Southeast Asian countries.UOB supplies business and business banking services, personal monetary services, private banking and other asset management services, as well as business finance, endeavor capital, insurance, and investment services. It has 68 branches in Singapore and a network of more than 500 workplaces in 19 nations and territories in Asia Pacific, Western Europe and North America.