OCBC confident about China as shareholders question Wing Hang deal
Published on Apr 24, 2014 5:15 PM
SINGAPORE - OCBC Bank's board of directors have reiterated their confidence in China's growth in explaining the Singapore lender's acquisition of Hong Kong's Wing Hang Bank.
At the bank's annual general meeting on Thursday, the first question posed by a shareholder was whether the bank could have grown organically in Greater China without acquiring another lender.
The shareholder also asked whether an ongoing economic slowdown in China would affect Wing Hang's financial health.
In response, OCBC non-executive chairman Cheong Choong Kong said the bank has confidence in the future of Greater China.
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