OCBC

OCBC: (The Edge) Grp has aggressively staked out its position in the Wealth Mgt space over the past decade, but has leapt at the opportunity to grab a larger pie in various segments following the GFC. Grp cite its massive growth in its trade finance business in the last 3-4 yrs and the significant growth of its wholesale banking business after the GFC. Following a $3.2b sales gain from the sale of F&N and GE, grp intends to use the funds to support its growth in the region, either via organic or inorganic growth. Cite Indonesia as a key growth market for grp, where the bank is targeting the SME and its consumer segment. Also aims to broaden its business towards large corporate and expand its investment banking capabilities in Indo. Also see further growth from China, where grp is targeting an offshore-offshore strategy by serving Chinese clients in Asean and HK. The next phase of OCBC expansion will be in Asean, focusing in emerging markets like Vietnam and Myanmar, although cite that Myanmar’s regulations is not at a stage where it is conducive for the co. to make any major investments. In its private banking segment, BOS has seen AUM growing steadily, at US$43bil, +35% yoy, and aims to focus on AUM growth further going forward, to build up its earnings base.