44-642: OCBC may refer to: OCBC Bank (Oversea-Chinese Banking Corporation), a bank based in Singapore OCBC Centre , the headquarters of OCBC Bank in Singapore Oakland Cannabis Buyers' Cooperative , a medical marijuana cooperative based in Oakland, California Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
88-694: A much larger new building , a project that also received substantial financial backing from the foundation. The reference library that occupies the 7th to 13th floors of the new building was named in his honour. Lee had a particular interest in the field of education and various institutions have been beneficiaries of donations from him or the Lee Foundation, including Singapore Management University , National University of Singapore , Anglo-Chinese School , St. Margaret's Secondary School , Methodist Girls' School , Singapore Chinese Girls' School , Tao Nan School and Anglican High School . After his death,
132-805: A network of 411 offices in 62 cities and 576 ATMs throughout Indonesia. Its customers could also use more than 37,500 ATMs (including ATMs belonging to ATM Bersama , Bank Central Asia , OCBC Bank in Singapore, and BankCard in Malaysia). Subsequently, in November 2010, OCBC Indonesia merged with OCBC NISP. OCBC wholly owns OCBC Al-Amin Bank, its Islamic banking subsidiary, which offers Islamic banking products and services in Malaysia. OCBC Al-Amin Bank Berhad
176-477: A technical problem at about 8.33am, which affected both consumer and banking customers. The affected services included the bank's internet and mobile banking platforms, the PayNow service, ATMs, cards, and Velocity, the bank's digital business banking platform. All banking services were restored at about 12.20pm. According to media reports, OCBC shares gained 1.05% in afternoon trading that day. On 7 November 2023,
220-474: A wholly owned subsidiary e2 Power Pte Ltd to provide back-office operations and technology support and transaction processing services in Singapore. A similar operating company, e2 Power Sdn Bhd was also set up on 21 July 2004 in Malaysia. On 3 June 2005, OCBC saw the grand opening ceremony of its newly-constructed Malaysia headquarters and main branch (Menara OCBC building) in Kuala Lumpur, officiated by
264-547: Is a Singaporean multinational banking and financial services corporation headquartered at the OCBC Centre . OCBC has total assets of S$ 581 billion at the end of 2023, making it the second largest bank in Southeast Asia by assets. It is also one of the world’s most highly- rated banks, with an Aa1 rating from Moody’s and AA− rating from Standard & Poor's . OCBC is consistently ranked amongst
308-654: Is a wholly owned private banking subsidiary of OCBC. Following OCBC's acquisition of ING Asia Private Bank in October 2009, Bank of Singapore was formed on 29 January 2010 from the combination of ING Asia Private Bank and OCBC Private Bank. With branches in Hong Kong and Dubai and a representative office in Makati City, Bank of Singapore serves high-net-worth individuals and wealthy families of Singapore, Indonesia, Malaysia, Philippines, Mainland China, Hong Kong, Taiwan,
352-559: Is no longer in the legal names of both OCBC's Hong Kong and Macau subsidiaries. In 2006, OCBC Bank first acquired a 12.2% equity holding in China's Ningbo Commercial Bank. OCBC subsequently raised its stake in the renamed Bank of Ningbo to 20% (the maximum allowed) in 2014. In December 2021, nearly 470 customers of OCBC lost a combined S$ 8.5 million after fallen prey to phishing scams involving OCBC, when scammers took advantage of old short message service (SMS) technology to impersonate
396-700: The Lee Foundation in Singapore and Malaya in 1952 and 1960 respectively. In 1965, the Lee Foundation Limited was established in Hong Kong. Lee also spearheaded free public library services for Singapore when he donated S$ 375,000 through the Lee Foundation to allow the Singapore Government to build the Old National Library building at Stamford Road . The old building was eventually demolished and replaced by
440-570: The "founding father" of Oversea-Chinese Banking Corporation . Lee was born in Furong Village in Nan'an , Fujian , towards the end of the Qing dynasty . His father was Lee Kuo Chuan ( simplified Chinese : 李国专 ; traditional Chinese : 李國專 ; pinyin : Lǐ Guózhuān ; Pe̍h-ōe-jī : Lí Kok-choan ). Lee received his early education in private schools in his hometown. In 1903, at
484-642: The China Guohua Company owned by Tan Kah Kee , and became Tan's protégé . He was promoted to the manager of the Tan Kah Kee Rubber Company in 1917. Three years later, he married Tan's daughter, Tan Ai Leh ( simplified Chinese : 陈爱礼 ; traditional Chinese : 陳愛禮 ; pinyin : Chén Àilǐ ; Pe̍h-ōe-jī : Tân Ài-lé ). Seven years later, Lee set up his own rubber smoking house in Muar , Johor , Malaya, which became
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#1732793580845528-680: The Japanese Occupation. By April 1942 most banks, including OCBC, had resumed normal operations. In Indonesia, the Japanese occupation authorities closed OCBC's branches in Sumatra. During the war, the bank moved its head office to Bombay, India and only re-registered back in Singapore after the war ended. OCBC's branch in Xiamen survived the war and in the 1950s, OCBC was one of only four foreign banks to have branches in China. After
572-650: The Middle East and Europe, as well as global Non-Resident Indians. Singapore Island Bank was formerly known as Bank of Singapore which housed the division, finatiQ, set up by OCBC Bank in 2000 as a self-service online bank during the dot-com bubble . On 29 January 2010, OCBC completed its acquisition of ING Asia Private Bank and renamed it Bank of Singapore. Therefore, OCBC renamed the bank that housed finatiQ, Singapore Island Bank to differentiate these two separate businesses to avoid confusion. As an online-only service provider of OCBC Bank, finatiQ could no longer meet
616-621: The Nam Aik Rubber Company in 1928. His enterprises of rubber planting and manufacture, pineapple planting and canning soon expanded to other parts of Southeast Asia, including Singapore, Malaya, North Borneo , Indonesia and Thailand. He was known as "Southeast Asia's Rubber and Pineapple King". He became one of the richest men in the region, with the Lee Rubber Company becoming a multimillion-dollar business which he started in 1931. His brother George Lee joined him at
660-860: The Singapore Exchange Derivatives Trading Limited (SGX-DT). It was established in 1986. In 2004, OCBC acquired Great Eastern Holdings (GEH) following a voluntary cash offer. GEH had S$ 53.1 billion in assets and 3.8 million policyholders as at 30 September 2010. GEH operates two distribution channels – the tied agency force and bancassurance. The company also operates in Malaysia, Indonesia and Brunei. On 19 June 2023, OCBC upped its stake in insurance arm Great Eastern Holdings to 88.4%. In September 2005, OCBC Asset Management Limited (the asset management arm of OCBC Bank) and Straits Lion Asset Management Limited (the asset management arm of Great Eastern) merged to form Lion Capital Management. In 2008, Lion Capital Management
704-710: The age of 10, he came to Singapore, then a British colony, to join his father. He studied at the defunct Anglo-Tamil School, and Chung Cheng High School . Lee returned to the Qing dynasty in 1909 to complete his education under a scholarship, but had to end it in 1911 when the Xinhai Revolution broke out. In China, Lee studied at Chi Nan College in Nanjing and later the Railway and Mining College in Tangshan , which
748-439: The background and purpose of transactions that were not consistent with its knowledge of the customer, or were unusually large and exhibited an unusual pattern that had no apparent economic purpose. The bank also failed to probe into the customer’s ownership and control structure when its declared beneficial owner was not named in its corporate registration documents. On 28 August 2023, OCBC's banking services were disrupted by
792-746: The bank to send unsolicited SMSes and dupe victims into handing over their online banking log-in details. OCBC later announced in January 2022 that it will make "full goodwill payouts" to all victims. In June 2023, OCBC was fined S$ 600,000 by the Monetary Authority of Singapore (MAS) for breaching anti- money laundering and anti- terrorism financing rules, in a matter related to the German payments provider Wirecard scandal between June 2015 and January 2016 relating to accounts maintained by one corporate customer. OCBC had failed to inquire into
836-792: The bank's services were affected by "intermittent technical issues" around noontime. The services affected included digital banking services, fund transfer services, PayNow services, and SMS one-time passcode services. According to media reports, some OCBC customers who contacted the bank's customer support were told that the service was fine, and were advised to uninstall and reinstall the app. The services were restored at about 2.30pm. On 1 September 2024, at about 11.50am, OCBC acknowledged that some users were having difficulties using its internet and mobile banking services. Some users reported being unable to make payments, such as via PayNow. The bank stated that no customer data had been compromised and its customers' funds remained safe. It announced at 3.22pm that
880-408: The company. Besides establishing himself as a rubber tycoon, Lee diversified his business interests to include sawmills and the trading of pineapple, coconut oil, biscuits and raw material. He also set up Lee Pineapple, Lee Produce, Lee Sawmills, Lee Printing and Lee Biscuits. Lee also went into banking. He was vice-chairman of Chinese Commercial Bank (CCB) and played a central role in facilitating
924-815: The establishment of Nan Chiau Teachers' Training College (now Nan Chiau High School ). He gave lectures in Columbia University during the Second World War while he was stranded in the United States. Lee became the vice-chancellor of the University of Singapore (now the National University of Singapore ) and donated S$ 1 million for the development of a medical college on the college's grounds. Lee's work and generous contributions to education and society were recognised. He
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#1732793580845968-561: The foundation continued this legacy and expanded into funding scholarships and bursaries offered by both educational institutions and government agencies. In 1934, Lee became the chairman of the Board of Directors of The Chinese High School (now Hwa Chong Institution ), a post he held until 1957. In 1939, Lee founded Guozhuan Primary School in his hometown, Furong Village. In 1941, Lee donated his properties in River Valley, Singapore for
1012-595: The growing needs of the bank's customers and had ceased business on 30 June 2011. In 2004, OCBC Bank acquired a 22.5% stake in PT Bank NISP Tbk ("Bank NISP"), its joint-venture partner in PT OCBC Indonesia since 1996. With the completion of this transaction, Bank NISP became an associate company of OCBC Bank. Bank NISP was ranked the 11th largest Indonesian bank by assets and had a network of 135 branches and offices and, over 3,000 shared ATMs . In
1056-589: The largest financial institution with the biggest deposit base in Singapore. By the end of 1981, OCBC’s total assets had grown to over S$ 7 billion. In December 1972, OCBC acquired Four Seas Communications Bank, the oldest surviving Chinese bank in Singapore. The bank had been founded in 1906 as the Sze Hai Tong Bank and its founders had targeted the Teochew community. In 1976, the landmark OCBC Centre , designed by renowned American architect I. M. Pei ,
1100-680: The merger of the Oversea-Chinese Bank, the Ho Hong Bank and the CCB to form the Oversea-Chinese Banking Corporation (OCBC) in 1932, becoming the largest bank in Singapore. Lee served OCBC as vice-chairman from 1932, and assumed chairmanship of OCBC in 1938, holding this post until his death in 1967. Like Tan Kah Kee, Lee poured his wealth into education and other philanthropic efforts. He set up
1144-532: The name of the child, but would only be operable "within boundaries and controls set by parents". The ten largest shareholders as of 8 March 2021 were: * Percentage is calculated based on the total number of issued ordinary shares, excluding treasury shares. OCBC Securities Private Limited is a wholly owned subsidiary of OCBC Bank, and is a member of the Singapore Exchange Securities Trading Limited (SGX-ST) and
1188-484: The needs of the post-war Chinese business community, especially in the smaller towns of Malaya. One of the critics was Tan Sri Khoo Teck Puat (then deputy general manager) who resigned in 1959 after failing to be appointed to the bank’s board of directors, and subsequently set up Malayan Banking in Kuala Lumpur in 1960 with 80 former OCBC staff. By 1970, OCBC's total assets exceeded S$ 1 billion , making OCBC
1232-632: The opening of Xiamen branch, after which it has been operating without interruption in mainland China for nearly 100 years. In 2007, OCBC Group incorporated its local entity in Shanghai. In 2014, OCBC Group completed acquisition of the former Wing Hang Bank and established OCBC Wing Hang China on 18 July 2016. The bank officially changed its name to OCBC Bank Limited and launched OCBC China as its new brand name on 6 December 2023. In March 2014, OCBC Bank offered to pay nearly US$ 5 Billion for Wing Hang Bank , one of Hong Kong's last family-owned banks. Wing Hang
1276-477: The same year, OCBC Bank purchased an additional 28.5% stake in Bank NISP, raising its shareholding in Bank NISP to 51%. OCBC Bank subsequently raised its stake to 70.62% in 2005. By 2008, it had increased its stake in Bank NISP to 74.73%. In 2008, Bank NISP changed its name to Bank OCBC NISP. As of 30 September 2010, Bank OCBC NISP had 5,995 employees, total assets of Rp 40.2 trillion, and served customers through
1320-751: The services had returned to normal. On 28 September 2024, it was reported that some internet and mobile banking users were not able to view their account balances and transaction history, or could not log in or carry out transactions. OCBC acknowledged at 5.03pm that day that there was a disruption to its services. It subsequently announced at 7.04pm that its internet and mobile banking services were restored. Lee Kong Chian Tan Sri Dato' Lee Kong Chian PMN SPMJ SJMK ( Chinese : 李光前 ; pinyin : Lǐ Guāngqián ; Pe̍h-ōe-jī : Lí Kong-chiân ; 18 October 1893 – 2 June 1967), also known by his alias Lee Geok Kun ( Chinese : 李玉昆 ; pinyin : Lǐ Yùkūn ; Pe̍h-ōe-jī : Lí Gio̍k-kun ),
1364-546: The then Malaysian prime minister Abdullah Ahmad Badawi , and in July the same year, OCBC opened an off-shore branch in Brunei . On 11 May 2017, OCBC entered into an agreement to acquire National Australia Bank ’s private wealth business in Singapore and Hong Kong. The acquisition was completed in November 2017. The deposits and mortgages booked in Hong Kong was transferred to OCBC Bank (Hong Kong) while those booked in Singapore
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1408-739: The title OCBC . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=OCBC&oldid=1044866436 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages OCBC Bank Oversea-Chinese Banking Corporation Limited ( simplified Chinese : 华侨银行有限公司 ; traditional Chinese : 華僑銀行有限公司 ; pinyin : Huáqiáo Yínháng Yǒuxiàn Gōngsī ), abbreviated as OCBC ( simplified Chinese : 华侨银行 ; traditional Chinese : 華僑銀行 ; pinyin : Huáqiáo Yínháng ),
1452-753: The top three "safest banks in the world" by the magazine Global Finance . The Asian Banker named OCBC as Singapore's strongest bank for 2018-2019, and the 5th strongest in the Asia–Pacific region. The bank's global network has grown to comprise more than 400 branches and representative offices in 19 countries and regions. These include 199 office networks in Indonesia under subsidiary Bank OCBC NISP , and over 60 branches and offices in Mainland China , Hong Kong and Macau under OCBC China, OCBC Bank (Hong Kong) and OCBC Bank (Macau) respectively. OCBC
1496-522: The war, OCBC re-established its branches in Jambi , Jakarta , and Surabaya . However, the 1963 conflict between Indonesia and Malaysia (which then included Singapore) resulted in the closure of OCBC's branches there. That same year the revolutionary government in Burma nationalized OCBC's two branches there, which became People's Bank No. 14. The bank was criticized for not expanding fast enough to meet
1540-524: Was a prominent Chinese Singaporean businessman and philanthropist based in Malaya and Singapore between the 1930s and the 1960s. He was the founder of the Lee Foundation and one of the richest men in Southeast Asia in the 1950s and 1960s. He was also a son-in-law of Tan Kah Kee , another well-known Chinese businessman and philanthropist based in Southeast Asia. He is affectionately known today as
1584-429: Was awarded World's Best Bank (Asia-Pacific) in 2019 by Global Finance Magazine. On 31 October 1932, three banks – Chinese Commercial Bank (1912), Ho Hong Bank (1917), and Oversea-Chinese Bank (1919) – merged and consolidated their strengths to form Oversea-Chinese Banking Corporation under the leadership of Hoklos Tan Ean Kiam (co-founder and managing director of Oversea-Chinese Bank) and Lee Kong Chian , who
1628-550: Was completed and serves as OCBC's current headquarters. On 9 May 1989, OCBC took on a new corporate identity by changing its logo and its name to OCBC Bank. The next major acquisition occurred in August 2001, when OCBC acquired Keppel Capital Holdings and all its subsidiaries, including Keppel TatLee Bank , Keppel Securities, and Keppel TatLee Finance. By February 2002, both OCBC and Keppel TatLee banks were operationally and legally integrated. On 25 June 2004, OCBC Bank established
1672-567: Was conferred an honorary Doctor of Laws by the University of Malaya in 1958. In 1964, Malaysia's Yang di-Pertuan Agong (head of state), Putra of Perlis , awarded Lee the title Panglima Mangku Negara (PMN), hence Lee was known by the honorific Tan Sri . Prior to that, Lee had been made Dato' by the Sultans of Johor and Kelantan in 1957 and 1959 respectively. In 1965, Lee was conferred another honorary degree, Doctor of Letters , by
1716-488: Was one of the top colleges in China at that time, and a forerunner of the present-day Southwest Jiaotong University and North China University of Science and Technology . Upon returning to Singapore, Lee worked as a teacher at Tao Nan School and as a translator at a Chinese-language newspaper company. He also worked as an assistant field surveyor with the Public Works Department. In 1915, Lee joined
1760-424: Was renamed as Lion Global Investors. The Brunei Branch of Lion Global Investors also began operations. Lion Global Investors had total assets under management of S$ 69.9 billion as at 31 March 2023. Lion Global Investors Limited is 70% owned by Great Eastern Holdings Limited and 30% owned by Orient Holdings Private Limited, a wholly-owned subsidiary of OCBC Bank. Bank of Singapore, (formerly ING Asia Private Bank),
1804-730: Was the eighth-largest lender in Hong Kong. Under the Hong Kong Companies Ordinance, OCBC Bank, with 97.52 percent of Wing Hang's shares, compulsorily acquired Wing Hang on 29 July 2014. On 1 October 2014, Wing Hang Bank was rebranded as OCBC Wing Hang Bank to reflect its integration into the OCBC family. On 3 July 2023, OCBC Wing Hang Bank Limited has further changed its name to "OCBC Bank (Hong Kong) Limited" and in Macau, "Banco OCBC Weng Hang, S.A." has changed its name to "Banco OCBC (Macau), S.A." . "Wing Hang" or "Weng Hang"
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1848-773: Was the first Singapore-based Islamic Bank established in Malaysia in 2008 to provide a full range of Shariah-compliant financial solutions based on the applicable Shariah contract and with the endorsement of the Shariah Advisory Committee. Headquartered in Shanghai , OCBC China employs around 1,500 staff at its head office and 16 branches and sub-branches across 14 cities in China's mainland, covering Shanghai, Suzhou , Shaoxing , Shenzhen , Guangzhou , Foshan , Xiamen , Zhuhai , Chongqing , Chengdu , Wuhan , Beijing , Tianjin and Qingdao . OCBC Group established its first presence in mainland China in 1925 with
1892-534: Was then vice-chairman of Chinese Commercial Bank. Lee played a central role in leading the amalgamation and is affectionately known today as the "founding father" of OCBC Bank. When OCBC began operation in February 1933, it was already one of the strongest local banks in the Straits Settlements . In 1942 during World War II , all the local banks in Singapore closed briefly during the early days of
1936-684: Was transferred to OCBC Bank. In March 2020, OCBC announced its partnership with Xero , a New Zealand -based cloud accounting software, to help small and medium-sized enterprise customers digitise their operations. In July 2020, OCBC launched HealthPass, a healthcare mobile application that aims to connect patients with medical doctors in Singapore via online consultation. On 3 September 2024, OCBC announced that it would soon allow children aged 7 to 15 (which it described as "Generation Alpha") to have their own bank account, operate their bank account digitally, and to have their own debit card. It stated that this OCBC MyOwn Account would be registered solely in
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