Ocbc Legal Name

In the same year, OCBC Bank acquired an additional 28.5% stake in Bank NISP and increased its stake in Bank NISP to 51%. OCBC Bank increased its stake to 70.62% in 2005. In 2008, it increased its stake in Bank NISP to 74.73%. In 2008, Bank NISP changed its name to Bank OCBC NISP. Bank of Singapore (formerly ING Asia Private Bank) is a wholly owned subsidiary of OCBC Bank. With offices in Hong Kong and offices in Manila and Dubai, Bank of Singapore serves high net worth individuals and high net worth families from China, Europe, Hong Kong, Indonesia, Japan, Korea, Malaysia, the Middle East, the Philippines, Singapore, Taiwan and Thailand, as well as Indians based around the world. OCBC acquired ING Asia Private Bank on 29 January 2010[22] and renamed it Bank of Singapore. [23] OCBC Bank is consistently ranked among the five “safest banks in the world” by Global Finance magazine. [9] The Asian banker named OCBC Bank Singapore as the strongest bank for 2018-2019 and the 5th strongest in the Asia-Pacific region. [10] The bank`s global network has expanded to more than 570 branches and representative offices in 18 countries and regions. These include more than 320 branches and offices in Indonesia under the subsidiary Bank OCBC NISP and more than 100 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang Bank. [11] OCBC Bank was named World`s Best Bank (Asia Pacific) by Global Finance Magazine in 2019.

[12] The next major acquisition occurred in 2001, when OCBC Bank acquired Keppel Capital Holdings and all its subsidiaries, including Keppel TatLee Bank, Keppel Securities and Keppel TatLee Finance. The following year, OCBC continued to integrate Keppel TatLee Bank operationally and legally. In 2003, OCBC Finance merged with OCBC Bank. In November 1960, OCBC formed an investment holding company called Select Securities Limited. The company is based in Hong Kong. Select Securities Limited is a subsidiary of Oversea-Chinese Banking Corp. Ltd.[27] OCBC Bank provides private banking services under the Bank of Singapore brand. OCBC Bank is the oldest established bank in Singapore and was established in 1932 by the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the most valuable banks in the world, along with Moody`s Aa1 and Fitch and S&P`s AA-. Known for its financial strength and stability, OCBC Bank is consistently ranked among the 50 safest banks in the world by Global Finance and named Best Managed Bank in Singapore by The Asian Banker. *Information from Forbes.com, Wikipedia.org and “www.ocbc.com”. In April 2004, we strengthened our presence in Indonesia by acquiring a 22.5% stake in the former NISP Bank.

Today, we own 85% of the shares of the company, which has been renamed OCBC NISP. Singapore Island Bank was previously known as the Bank of Singapore and was acquired by OCBC in 2000. On 29 January 2010, OCBC Bank completed the acquisition of ING Asia Private Bank and renamed it Bank of Singapore. OCBC renamed the bank that housed the finatiQ Singapore Island Bank to distinguish these two separate companies and avoid confusion. On May 9, 1989, OCBC received a rebranding by changing its logo and name to OCBC Bank. [13] OCBC has actively sought to expand beyond corporate and commercial banking through mergers and acquisitions. The bank completed the acquisition of ING Asia Private Bank in 2010 to strengthen its wealth management business. Renamed Bank of Singapore, it now operates as a private banking arm. OCBC also increased its stake in insurance company Great Eastern Holdings to about 87% in 2008. The acquisition of Wing Hang Bank in Hong Kong in 2014 is part of plans to accelerate business expansion in Greater China.

In 1942, during World War II, all local banks in Singapore closed briefly during the early days of the Japanese occupation. By April 1942, most banks, including OCBC, had resumed normal operations. In Indonesia, the Japanese occupation authorities closed OCBC branches in Sumatra. During the war, the bank moved its headquarters to Mumbai, India, and only re-registered in Singapore after the war. [14] OCBC`s Xiamen branch survived the war, and by the 1950s OCBC was one of only four foreign banks with branches in China. [15] OCBC Bank operates its insurance business under the umbrella of its 88% subsidiary Great Eastern Holdings. It is one of the largest asset management firms in Southeast Asia, offering a full range of investment products covering all asset classes. In November 2012, we acquired an 80% stake in brokerage PT TransAsia Securities and renamed OCBC subsidiary Sekuritas a month later.

In December 2014, we increased our stake in OCBC Sekuritas to 95.1%. The transactional banking sector provides transaction-related services such as cash management, trade finance and custody/nominee services to SMEs, large corporations, financial institutions and government agencies. OCBC NISP is among the top 10 domestic private banks in Indonesia by asset and has a distribution network of over 250 branches and offices throughout Indonesia.