Bank of Singapore (OCBC) – Competitor Profile

The Bank of Singapore is the Singapore-based private banking arm of Oversea-Chinese Banking Corporation (OCBC Bank). It has a presence in Asia, the Middle East, and Europe. The bank focuses on serving high-net-worth (HNW) individuals and wealthy families.

This report gives a comprehensive analysis of Bank of Singapore's private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Scope

– Bank of Singapore serves HNW customers with assets of at least $5m.

– It has begun expanding its reach by launching a European wealth management subsidiary, known as BOS Wealth Management Europe, in Luxembourg and London.

– Bank of Singapore's financial performance has been progressive year on year since 2010, when the private bank formed. Wealth management income was up 10%, AUM was up 15%, and net fees and commissions were up 7% in 2019 against 2018.

– OCBC is focused on digital investing for customers less affluent than HNW, launching an online advisory service in the midst of the coronavirus pandemic in April 2020.

– OCBC is remaining a forward-thinking bank, utilizing new technologies such as AI and creating opportunities for the next generation through scholarships.

Reasons to Buy

– Examine the financial performance, key ratios, and AUM growth of Bank of Singapore, and benchmark this competitor against other global wealth managers.

– Understand its current strategic objectives and their impact on financial performance.

– Discover Bank of Singapore’s key products and client targeting strategies and examine whether these have been successful.

– Learn more about its marketing strategy, social media presence, and digital innovations.