The central Chinese province of Hubei’s capital city, Wuhan, now has a new branch of OCBC Wing Hang Bank (China), a division of OCBC Bank. This move expands the bank’s network to 19 branches across 14 cities in China.
Helen Wong, who is the CEO of the OCBC Group, was excited about the opening and said that the Wuhan branch will be the bank’s main office in Hubei province and Central China. With this new addition, OCBC is now better positioned to capture ASEAN Greater China trade and investment flows.
OCBC wants to offer different banking services to their customers by using their presence in Southeast Asia and their two main hubs in Singapore and Hong Kong. They will also collaborate with local and foreign banks to further enhance their services.
Targeted Sectors
The Wuhan branch will focus on helping businesses in the real estate, new energy, logistics, communication and technology, and supply chain management sectors. The bank also plans to offer a wide range of goods and services, such as deposits and loans, corporate financing, cash management, international settlement, investment and wealth management, cross-border trade settlement in Renminbi (RMB), supply chain financing, and online banking services.’
Going Green
Also, the Wuhan branch wants to help clients move to a low-carbon economy and promote green finance solutions. This fits with OCBC’s sustainability agenda and their goal to drive sustainable development across all of their operations.’
Opening Ceremony
OCBC Bank Group CEO Wong, OCBC Wing Hang China director and CEO Wang Ke, and OCBC Wing Hang China Wuhan general manager Ye Jing were among the well-known people who attended the launch ceremony. Vice Mayor Yang Ze Fa of Wuhan, Director General Duan Yindi of the Hubei Provincial Bureau of Local Finance Control and Supervision, and Deputy Governor Chen Ping of Hubei Province were also there.
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The move by OCBC Wing Hang Bank to open a branch in Wuhan is a smart way to strengthen the bank’s position in Central China. With the new branch, the bank wants to offer its customers different kinds of banking services and support sustainable growth. As the bank continues to grow its network, it will be able to take advantage of new opportunities and improve its services in the area.
