OCBC Bank (Malaysia) CEO Tan Chor Sen
PETALING JAYA: OCBC Bank (M) Bhd (OCBC Bank) has been named Malaysia’s Bank of the Year by London-based The Banker, marking its second consecutive year.
The award recognises banks that have demonstrated growth while retaining a solid balance sheet, improved quality of service, technological investments and local community involvement.
OCBC Bank’s award-winning performance was attributed to several key factors, including increases in operating profit, income growth and net interest margin.
The bank’s pioneering green initiatives, such as being the first in Malaysia to create decarbonisation plans for businesses through the Malaysian Green Technology and Climate Change Corp’s online carbon management platform, were also lauded.
The Banker also drew reference to OCBC Bank’s extensive social programmes, with a staff volunteerism rate of over 90%, as well as its innovations in syariah-compliant banking services. This includes its extension of US$175mil in Islamic green term financing facility via its Islamic banking arm, OCBC Al-Amin, to a local bank.
OCBC Bank had also introduced the syariah-compliant online business account OCBC eBiz Account-i, tailored to small and medium enterprises (SMEs).
The bank has also provided capital support to local businesses with more than RM142mil disbursed through its Biz-Financing-i facility.
OCBC Bank was noted to have also collaborated with Credit Guarantee Corp Malaysia Bhd to offer RM100mil in portfolio guarantees, providing enhanced support for small businesses recovering from the economic impact of the Covid-19 pandemic.
OCBC Bank chief executive officer Tan Chor Sen said the recognition affirms the group’s ongoing commitment to customer-service, sustainability, social responsibility, Islamic banking, digitalisation and SME development.
“It will spur us on to not just do more of what works for the communities we serve, but to keep challenging ourselves to excel and do even better.
“By enabling our people and communities to realise their aspirations every step of the way, we believe we will be entrenching ourselves as the bank for the communities we serve not just in Malaysia but the region as well,” he said in a statement.
OCBC Bank, which has been a key player in Malaysia’s financial landscape for over 90 years, is part of Singapore-based OCBC Group, the second-largest banking group in South-East Asia by assets.
In addition to the win, OCBC Group was also recognised as Bank of the Year for Asia Pacific and Indonesia.
The Banker, a Financial Times service, is a leading source of global financial analysis, offering insights to help financial leaders make strategic decisions.
The 2024 awards recognise excellence for banks in 127 countries.
