On March 21, 2023, the Wuhan Branch of the Overseas Chinese Bank of Singapore officially opened.Wuhan Branch is the first branch of Overseas Chinese Wing Heng Bank (China) in the central region and the first branch of a Singapore financial institution in Hubei.On September 30, 2022, the Wuhan Branch of Overseas Chinese Yongheng Bank (China) Co., Ltd. obtained the "Reply of the Hubei Regulatory Bureau of the China Banking and Insurance Regulatory Commission on the Opening of the Wuhan Branch of Overseas Chinese Yongheng Bank (China) Co., Ltd." (E Yin Bao Jian Fu [222] No. 427), and obtained a financial license on October 9, 2022. Subsequently, it was registered and established in the Wuhan Market Supervision and Administration Bureau on October 13, 2022.Address at:Units 3004A, 3004B1, 3005A, and 3005B, No.1 Enterprise World, No. 1505 Zhongshan Avenue, Jiang'an District, Wuhan City, Hubei Province.

Overseas Chinese Yongheng Bank (China) opens a branch in Wuhan

The presence of OCBC in Wuhan is a win-win cooperation project. The presence of OCBC is conducive to the opening up of Hubei and the internationalization of enterprises, and can provide more financial services and experience. Hubei is promoting a high level of opening-up and accelerating the construction of the inland "new coastal". More and more enterprises are entering the global market. Foreign banks often have advantages such as overseas service networks and international financial experience, which can just provide financing and intelligence services for enterprises to "go global".

Yang Zefa, Vice Mayor of Wuhan Municipal Government (from the left), Duan Yindi, Director General of the Local Financial Supervision and Administration Bureau of Hubei Province, Chen Ping, Vice Governor of Hubei Provincial Government, Huang Bijuan, CEO of Overseas Chinese Bank Group, Wang Ke, Director and CEO of Overseas Chinese Yongheng Bank (China), and Ye Jing, President of Wuhan Branch of Overseas Chinese Yongheng Bank (China), jointly presided over the opening of the branch.

For Hubei, the Wuhan Branch of the Overseas Chinese Bank of Singapore is the first regional headquarters of a foreign bank to be established in Hubei after the epidemic. It is of great significance for Hubei to improve the efficiency of financial aggregation, enrich the financial organization system, and strengthen international financial exchanges

For ASEAN, this is an opportunity to strengthen trade exchanges with Hubei. ASEAN is Hubei's largest trading partner. As of February 28, 2023, Hubei's import and export volume to the ASEAN region reached 15.42 billion yuan, a year-on-year increase of 43.6%;

For OCBC, this is a strategic move to expand the Chinese market. With Wuhan, the thoroughfare of nine provinces, as the headquarters in Central China, the Overseas Chinese Bank Group cooperates with more than 60 service outlets of the Overseas Chinese Bank Group in the Beijing-Tianjin-Hebei, Yangtze River Economic Belt, and Guangdong-Hong Kong-Macao Greater Bay Area. Overseas Chinese Bank cooperates with local Chinese banks and other foreign banks to provide differentiated financial services, giving full play to the group's network and product advantages in Greater China and ASEAN, Strengthen the coverage of key enterprises in the pillar industry chain of the "965" modern industrial system, and build a financial and trade bridge connecting Greater China and ASEAN with the strongest comprehensive strength.

Overseas Chinese Bank (OCBC) is the oldest local bank in Singapore, formed by the merger of three major Chinese banks in 1932, the earliest of which was established in 1912. It is currently the second largest financial services group in Southeast Asia with assets. It has been rated Aa1 by Moody's, AA - by Fitch and S&P. With widely recognized financial strength and stability, OCBC has been rated as one of the 50 safest banks in the world by Global Finance, And was named the best managed bank in Singapore by The Asian Banker.

Overseas Chinese Yongheng Bank (China) Co., Ltd

The Overseas Chinese Bank established its first branch in Xiamen in 1925, and has been operating steadily in the mainland of China. In 2007, OCBC established a corporate bank, OCBC Bank (China) Co., Ltd. in Shanghai. On July 18, 2016, OCBC officially established OCBC Wing Heng Bank (China) Co., Ltd. through merger and absorption.

Overseas Chinese Wing Heng Bank (China), headquartered in Shanghai, employs nearly 1500 employees and has 19 outlets in 14 cities, including Beijing, Shanghai, Xiamen, Zhuhai, and Foshan. Its core businesses include corporate banking, financial institution business, capital business, and retail banking.

In 2021, Overseas Chinese Yongheng Bank successfully issued financial bonds with a total scale of 2.5 billion yuan, and cooperated with Ping An Bank to launch the "cross-border wealth management" business. At the same time, it also worked closely with Lenovo Technology Services to launch cross-border supply chain financial solutions in USD based on existing RMB supply chain financing.