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Oversea-Chinese Banking Corporation Limited (SGX: O39, OTC Pink: OVCHY) (Simplified Chinese: 华侨银行有限公司), abbreviated as OCBC Bank (华侨银行), is a publicly listed financial services organisation with its head office in Singapore. Although publicly listed, OCBC Bank's largest shareholder is the Lee Group of Companies. OCBC was founded by Lee Kong Chian in 1932, and his son Lee Seng Wee also served as chairman. OCBC Bank has assets of more than 224 billion SGD. Based on Bloomberg, in 2011 OCBC is the number one of the world's strongest $100 billion assets banks.[2]
The "Oversea-Chinese" usage leads many to believe mistakenly that the bank's name is misspelled, but this is the correct traditional spelling. The bank's global network has grown to comprise subsidiaries, branches, and representative offices in 18 countries and territories. It has retail banking subsidiaries in Malaysia, Indonesia, Hong Kong, and China, and branches in China, Hong Kong, Japan, Australia, the UK and US. OCBC's Indonesia subsidiary, Bank OCBC NISP, has 630 branches and offices.[3] |
