OCBC Launches Indonesian Private Banking Unit

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OCBC Launches Indonesian Private Banking Unit

OCBC has launched an Indonesian private banking unit as the bank expands their presence. The onshore unit will be run by OCBC NISP, the Indonesian subsidiary that is 85% owned by OCBC. OCBC NISP will be targeting Indonesians with assets under management of more than US$1 million.

“OCBC NISP will be targeting Indonesians with assets under management of more than US$1 million.”

Parwati Surjaudaja, President Director of OCBC NISP, said in a statement there are many new opportunities in the high net worth segment for the local Indonesian banks as a result of the successful completion of the government’s tax amnesty program.

News Source: CNBC

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About OCBC

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

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