OCBC NISP Bank to Launch Private Banking Service in May
OCBC NISP Bank plans to launch a private banking service in May after it received a license to do so from the Financial Services Authority (OJK). The bank is reported to have gained US$600.24 million in repatriation funds from the participants of the tax amnesty program from Indonesia.
“The bank is reported to have gained US$600.24 million in repatriation funds.”
The funds would be distributed to government bonds, corporate bonds and capital markets.
News Source: The Jakarta Post
OCBC (SGX:O39) is the longest established Singapore bank — it was born out of the Great Depression through the consolidation of three banks in 1932: the Chinese Commercial Bank Limited (incorporated in 1912), the Ho Hong Bank Limited (incorporated in 1917) and the Oversea-Chinese Bank Limited (incorporated in 1919). It operates its banking business as OCBC Bank, Bank OCBC NISP, OCBC Wing Hang China, OCBC Al-Amin, and Bank of Singapore in over 18 countries and territories.
- Origin : Singapore
- Assets : SGD 390.19 billion
- Revenue : SGD 8.72 billion
- Employees : 29,000
Official Website: www.ocbc.com
News & Media: Press Release
Updated on 8th August 2016