OCBC and Bank of Ningbo signed a new ten-year strategic cooperation agreement on 17 September. The agreement covers wholesale banking and wealth-management activities across ASEAN and Greater China. It extends a relationship that includes OCBC’s 20% ownership interest in the Chinese lender.
The banks said their cooperation would support customers operating between China and Southeast Asia. The arrangement includes corporate banking, wealth management and staff development. OCBC will continue a US$5 million training grant supporting staff training, secondments and leadership exchanges at both banks. More than 1,000 employees have participated in the programme, according to the banks.
ALLIANCE TARGETS REGIONAL CLIENT FLOWS
OCBC said it recorded a 50% increase in new-to-bank Chinese companies expanding into ASEAN in 2025. OCBC has set up China Business offices in ASEAN markets since 2019 to facilitate cross-border flows.
OCBC first acquired a 12.2% stake in Bank of Ningbo in 2006 and raised it to 20% in 2014. The two banks previously signed a ten-year strategic agreement in 2017. OCBC Group CEO Tan Teck Long said the partnership had “generated significant synergies” across both banks’ franchises.
BANK OF NINGBO REPORTED PROFIT GROWTH
Bank of Ningbo reported first-half 2026 net profit of RMB16.6 billion, 12% higher than a year earlier,.
The agreement was signed in Ningbo by OCBC Group CEO Tan Teck Long and Bank of Ningbo President Feng Peijiong, with OCBC Chairman Andrew Lee and Bank of Ningbo Chairman Zhuang Lingjun present.