Oversea-Chinese Banking Corp. unveiled a target to boost revenue from business flows between Greater China and Southeast Asia as trade between the key markets increases.
Singapore’s second-largest lender aims to generate S$3 billion ($2.2 billion) in accumulated revenue through 2025 by focusing on the two trade blocs, Chief Executive Helen Wong said Monday.
“Macro trends are telling us we are in the right markets,” Wong said at a news briefing in Hong Kong. The target is on top of the group’s expected revenue growth from other businesses, she said.
The bank also launched a campaign to unify its brand across its core markets. Its Hong Kong unit is dropping “Wing Hang” from its name to be known as OCBC Bank (Hong Kong) Ltd. OCBC acquired Hong Kong’s Wing Hang Bank Ltd. in 2014 to gain more access to Chinese companies that are expanding in Southeast Asia.
--With assistance from Chanyaporn Chanjaroen.
