OCBC launches second-largest branch in Orchard Road

A woman walking past the OCBC Tower at Chulia Street on April 1, 2014. OCBC Bank formally launched its second-largest branch at Orchard Road on Thursday. -- ST PHOTO: KUA CHEE SION
A woman walking past the OCBC Tower at Chulia Street on April 1, 2014. OCBC Bank formally launched its second-largest branch at Orchard Road on Thursday. -- ST PHOTO: KUA CHEE SION

SINGAPORE - OCBC Bank formally launched its second-largest branch at Orchard Road on Thursday.

The bank's 10,300 sq ft, three-storey orchardgateway branch is the first to feature three distinct banking concepts, dedicated to different customer segments.

These are the affluent segment (OCBC Premier Banking), the youth and new-to-workforce segment (Frank by OCBC), and the mass segment.

The total cost of building the branch was more than $5 million, the bank said.

It is also the first time OCBC Bank is stationing OCBC Premier Banking offshore relationship managers at a branch. The 15-strong offshore team at the branch will serve clients from countries including Indonesia and China.

"A successful (bank) branch must be established from both the locale's footfall mix and a firm grasp of consumer lifestyle patterns," said Mr Sunny Quek, OCBC's head of branch and group premier banking.

"You literally grow up with the orchardgateway branch: starting by banking with an OCBC Mighty Savers account as a kid on Sundays, transiting to a Frank by OCBC account and credit card as a youth, and becoming our Premier Banking customer as your wealth accumulates with us."