OCBC to Buy NAB’s Private Wealth Business in Singapore and Hong Kong
OCBC has stated that it will buy National Australia Bank’s (NAB) private wealth business in Singapore and Hong Kong.
“a mortgage portfolio amounting to about $US1.7 billion of residential mortgage loans.”
NAB’s private wealth business consists of a mortgage portfolio amounting to about $US1.7 billion of residential mortgage loans and a deposit portfolio of about $US3.05 billion as of end of February.
News Source: CNBC
About National Australia Bank
National Australia Bank (NAB) was founded in 1858. Today, it has more than 35,000 people serving 10 million customers at more than 800 locations in Australia, New Zealand and around the world. As Australia’s largest business bank, it works with small, medium and large businesses to help them start, run and grow.
- Origin : Melbourne, Australia
- Assets : AUD 955.05 billion
- Revenue : (PBIT) AUD 9.08 billion
- Employees : 35,000
Official Website: www.nab.com.au
News & Media: Press Release
Updated on 8th August 2016