Suppose you’re a client or curious individual yearning to learn more about the nine unbelievable facts about the Oversea-Chinese Banking Corporation or OCBC Bank Singapore. In that case, you’re in for a big treat! Know the bank better than what you see now.
Are you ready to embark on an incredibly breathtaking journey through time to discover the remarkable history of Singapore’s most iconic financial institutions? Let’s go right ahead!
1. OCBC Bank Singapore: The Birth of a Banking Behemoth (1932)
From the ashes of the Great Depression, OCBC Bank Singapore arose. Its establishment was an intelligent approach through the strategic consolidation of three banks:
- Ho Hong Bank Limited
- Chinese Commercial Bank Limited
- Oversea-Chinese Bank Limited
The design of their meticulous and specific approach was to safeguard the banks and counter the economic downturn happening during this era successfully. As a result, the creation of a formidable financial institution was born.
Moreover, combining the three banks’ resources and strengths became the solid foundation of OCBC Bank. With it began their dominance and resilience to weather future financial storms since 1932.
2. OCBC Bank Singapore: Weathering The Storm (1940s)
The 1940s brought in a massive storm in Singapore. It was a dark time as World War II began, along with the subsequent Japanese Occupation of the country.
The concerns and threats were palpable during these moments; OCBC Bank Singapore proceeded to operate and provide financial services to the people in the region. Thus, the bank extended monetary help during the tumultuous period.
Such resilience under difficult circumstances further reinforced the bank’s dedication and advocacy to its customers, setting the stage for its future success.
3. OCBC Singapore’s International Expansion (the 1950s)
It didn’t take long before OCBC Bank Singapore went on its journey to go beyond the border post World War 2. It embarked on its first and most significant step to international expansion by opening its first overseas branch in Xiamen and was among the four foreign banks in China.
It’s a massive leap that began the transformation into OCBC Bank’s global banking institution services. And today, the bank’s international network spans nineteen countries and territories!
OCBC Bank continues offering its customers various financial services, like personal loans, worldwide!
4. Reaching for the SKY: OCBC Singapore’s Centre (1976)
If you want to see the tangible progress of OCBC Bank, the ideal demonstration of its growing stature is the OCBC Centre.
The OCBC Centre was a commissioned construction in 1976. It’s an incredibly fantastic skyscraper designed by I.M. Pei, a renowned Chinese-American architect.
OCBC Centre stands the tallest during its time of completion and today continues to be a significant landmark that symbolises OCBC Bank’s contribution to Singapore’s skyline.
Note: I.M. Pei’s architectural style is Modern and High-tech architecture. His other renowned works include El Paso Tower, The Beijing Fragrant Hill Hotel, and one of the Louvre Museum in Paris’ glass pyramid.
5. OCBC Bank Singapore Revolutionising Banking (1980)
Did you know that OCBC Bank became the first bank in the country to introduce Automated Teller Machines (ATM)?
It was recognised as a revolutionary move as it marked a significant change in the banking services methods, particularly in delivering funds to customers. Furthermore, as it’s automated, customers can access their money for 24 hours in Singapore’s banking history for the first time.
It’s an event that many people look back to because it set the pace for future technological advancements, particularly in the banking industry.
6. OCBC Bank Singapore’s First Green Bond (2017)
OCBC Bank Singapore always continues to show its commitment to sustainability. In truth, it became Southeast Asia’s first bank to issue a green bond in 2017.
The green bond focuses on green and social projects dedicated to finance with the advocacy to attain environmental benefits, such as energy efficiency and renewable energy.
With such devotion to helping the environment and future generations, OCBC Bank is a leader in sustainable financing with a comprehensive focus on environmental conservation and commitment.
7. Digital Banking with OCBC Singapore (2018)
Digital banking is now a valuable service many banks in Southeast Asia apply and offer their customers. OCBC Bank launched its digital bank in Malaysia and Indonesia in 2018 to deliver its consumers the best digital banking assistance.
OCBC Bank aims to provide reliable and credible innovative services to its client. The commitment also demonstrates the bank’s capabilities to adapt to any changes the customer demands and technological advancements that better clients will benefit from. It further ensures the bank’s continued relevance in today’s evolving digital landscape.
8. OCBC Singapore Empowering Women (2020)
The OCBC Bank launched its ingenious initiative, the Schroder Asian Income W Share Class. It’s a comprehensive program that aims to support women entrepreneurs.
OCBC Bank endeavours to expand its broader commitment to inclusion and diversity. The bank supports women by providing all the necessary resources and aid to empower women entrepreneurs with as little as S$100! Thus, those under the program will grow their businesses and become assets in their communities and region.
9. OCBC Singapore’s Personal Loans
The OCBC Bank has various types of loans to offer its clients. Among these are ranges of personal loan services to assist customers in attaining their financial goals.
A personal loan is an unsecured loan that’s flexible and used for many purposes, such as car financing, home repairs, covering urgent expenses, and funding one’s dream vacation or wedding.
Due to its fast application and approval, OCBC Bank is among the leading banks that are a superior choice for personal loans like Balance Transfers or Debt Consolidation Plans in the region. Personal loans have varied interest rates and flexible repayment periods that suit individual requirements.
Concluding Thoughts: OCBC Bank Singapore’s History, A Glimpse into the Future
OCBC Bank Singapore’s history has tales of resilience, technological advancements, and unwavering customer focus. These are testaments of the bank’s wealthy and influential past and a crucial indicator of its promising future. The future of which promises better and more empowering services to everyone.
The bank’s capacity to adapt and thrive despite changing circumstances proves its dedication to diversity and sustainability, which is essential for any client.
Let OCBC Bank’s past guide you as you journey to the future. Also, suppose you plan to take out a personal loan with a faster transaction time frame. In that case, you can navigate your loan needs with Accredit – a highly reliable licensed moneylender in Singapore granting tailored financial assistance.
Meet your needs with understanding, innovation, and committed services. Rely on OCBC Bank Singapore or Accredit to the financially-ready future you deserve!
