Opening an Account in OCBC Bank Singapore

Opening an account in OCBC bank SingaporeOCBC Bank is the oldest and most reputable bank in Singapore. It was formed in 1932 during the Great Depression as a result of the merger of three Singaporean banks, the oldest of which conducted its activities since 1912 and was called Chinese Commercial Bank. The other two banks were Ho Hong Bank (founded in 1917) and Oversea-Chinese Bank (1919).

The resulting bank was named Oversea-Chinese Banking Corporation (abbreviated OCBC) and since its founding has paid great importance to the understanding and meeting all the financial needs and requirements of its customers and finding appropriate solutions for them.

In 2011 and 2012 OCBC was named the strongest bank in the Bloomberg Markets world rating, which assesses the stability and reliability of banking organisations.

Now OCBC banking group is the second largest in terms of assets in Singapore, conducting banking operations in more than 15 countries around the world as OCBC Bank and through banks belonging to it – OCBC NISP and Bank of Singapore. In addition, the banking group has major stakes in other companies as well as other areas of financial services in the insurance sector (Great Eastern company), asset management (Lion Global Investors company) and in the field of brokerage services (OCBC Securities and Bank of Singapore Securities Global Banking). The 15 countries and territories where OCBC Bank performs commercial banking operations include Singapore, Malaysia, Indonesia, China, Hong Kong, Vietnam, Brunei, Japan, Australia, UK and the USA, and the key markets are Singapore, Malaysia, Indonesia and Greater China. Globally, the bank has more than 500 branches and representative offices (in this case 55 in Singapore, 36 in Malaysia, 400 in Indonesia and 16 in China).

OCBC Bank offers a broad range of professional services in the field of finance management, including deposits and loans, credit cards, corporate banking, family Cash Management, international trade financing, and investment banking for wealthy clients.

What is required to open an account for a legal entity in the OCBC Bank in Singapore?

– Full package of documents for the company
– Passport
– Utility bill in English
– An email address to which the device will work through the Internet bank
– Personal presence at the bank to open an account
– A minimum account balance of $30,000 U.S. dollars

Singapore is one of the largest and fastest growing financial centres in Asia

Today, there are 111 commercial banks, 49 merchant banks, and 45 banks with representative offices operate in Singapore, managing more than $350 billion of assets (2004). The banking industry in Singapore is regulated by the Monetary Authority of Singapore.

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