OCBC expects 2011 slowdown
By Maggie Zhang |
May 21, 2011, Saturday
|
Print Edition
Print Edition
OCBC Bank expected its loan growth to slow down this year in China against tightening monetary policy, its China head said yesterday.
The bank's loan and assets more than doubled in 2010 on rapid growth, said Leong Wai Leng, chairwoman and chief executive officer of OCBC Bank (China) Ltd.
"We won't slow down our investment and network expansion," she said. "We will also beef up our deposits."
The bank's loan-to-deposit ratio is slightly above 75 percent at present, and the bank is confident of controlling the ratio within 75 percent, a requirement that overseas banks must meet by the end of the year.
The bank is to open a branch in Qingdao in east China's Shandong Province soon. It has 13 outlets at present, including a representative office in China.
The Singapore bank started operations as a locally incorporated entity in Shanghai in August 2007, with a registered capital of 3.5 billion yuan (US$538 million), and has about 500 employees in China.
It is the second Singapore bank, after DBS, to be locally incorporated in Shanghai and followed the example of overseas rivals Citi and HSBC.
The bank's loan and assets more than doubled in 2010 on rapid growth, said Leong Wai Leng, chairwoman and chief executive officer of OCBC Bank (China) Ltd.
"We won't slow down our investment and network expansion," she said. "We will also beef up our deposits."
The bank's loan-to-deposit ratio is slightly above 75 percent at present, and the bank is confident of controlling the ratio within 75 percent, a requirement that overseas banks must meet by the end of the year.
The bank is to open a branch in Qingdao in east China's Shandong Province soon. It has 13 outlets at present, including a representative office in China.
The Singapore bank started operations as a locally incorporated entity in Shanghai in August 2007, with a registered capital of 3.5 billion yuan (US$538 million), and has about 500 employees in China.
It is the second Singapore bank, after DBS, to be locally incorporated in Shanghai and followed the example of overseas rivals Citi and HSBC.
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