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3 June 2005
Bank to continue expansion "across communities"
Lumpur, Malaysia, 3 June 2005 - Prime Minister Dato'
Seri Abdullah Ahmad Badawi today officially opened OCBC
Bank (Malaysia) Berhad's new corporate headquarters
and main banking branch at 18 Jalan Tun Perak. The event
was witnessed by guests comprising the Bank's customers,
business partners, and staff as well as members of Malaysia's
Menara OCBC is the Bank's latest investment in Malaysia.
Over the last five years, OCBC Bank has invested about
RM330 million in the country.
Speaking at the opening ceremony, OCBC Bank Limited's
Chairman Dr Cheong Choong Kong said that Menara OCBC
is symbolic of the Bank's long association with Malaysia.
"Menara OCBC is brand new, but OCBC in Malaysia
is anything but. We have been around since 1932, and
we are proud of it," said Dr Cheong.
Reiterating the Bank's commitment to serve the community,
Dr Cheong said, "As banker to the community, we
help individuals and businesses achieve their aspirations
by providing them with the right products and services.
This commitment holds true in all the geographies that
we operate in. Our name, Oversea-Chinese Banking Corporation,
reflects our Chinese roots, but our services extend
far beyond that particular community. We have been providing
banking services to Malaysians for over seven decades,
happily and profitably, through our 25 branches throughout
Today, Malaysia accounts for 30% of the OCBC Group's
total profit before tax.
To better help its individual customers achieve their
financial objectives, OCBC Bank introduced increasingly
innovative products and services. This resulted in a
20% growth in home loans in 2004 and saw the Bank's
bancassurance sales growing by 107%, with OCBC Bank
taking the number one position for single and regular
premium plans. Its portfolio for credit cards also saw
a 90% increase in 2004, outpacing the card industry
growth in Malaysia by 3.6 times.
As for the business community, the Bank has introduced
Business Banking Service Desks in 19 branches in 2004,
to provide trade financing advice and services. With
over RM1 billion in deposits and about the same amount
in loans disbursed, OCBC Bank is also one of the top
2 foreign banks offering Islamic Banking in Malaysia.
Also present at the opening ceremony was Tan Sri Dato
Nasruddin bin Bahari, Chairman of OCBC Bank (Malaysia)
Berhad. In his address to guests, he spoke about how
OCBC Bank was encouraged by the Government's recognition
of the role that the Bank could play in nation-building.
"We see ourselves as partners with the Government,
working together to enhance the livelihood of Malaysians.
The Governor of Bank Negara Malaysia rightly pointed
out that foreign banks have benefited and flourished
in the stable economic environment and in the significant
economic growth Malaysia has achieved. We are ever grateful
for this and wish to reciprocate by heeding the Governor's
call and becoming more integrated into the domestic
With a total of 22,599 sq m of built-up area, Menara
OCBC houses more than 1,500 staff from the Bank's key
business divisions as well as its banking branch. The
banking hall features an expanded self-service banking
lobby, known as OCBC Fastlane, which offers a total
of 15 self-service machines comprising automated teller
machines (ATMs), cash deposits machines and cheque deposit
machines. The Bank's Premier Banking Centre is also
located within the building.
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