The merger between OCBC Bank and Wing Hang Bank's Chinese network is now set to close in the second half of this year, following approval of the deal being granted by Chinese regulators. In a statement on its website, Wing Hung said it would "continue to operate as an independent bank with our existing business model until such time that we are able to fully comply with all relevant regulatory
The merger between OCBC Bank and Wing Hang Bank's Chinese network is now set to close in the second half of this year, following approval of the deal being granted by Chinese regulators. With the move, OCBC will become the 4th largest foreign-owned entity operating in China, behind HSBC, Bank of East Asia, and Standard Chartered.