As at March 31, OCBC’s group wealth management AUM was $270 billion, up from $258 billion a quarter ago.
Oversea-Chinese Banking Corporation’s (OCBC) brand refresh was not just a marketing campaign. At the July 3 announcement in Hong Kong, the bank’s leaders announced plans to double assets under management (AUM) of its premier banking and premier private client (PPC) segments for Greater China.
OCBC says AUM for these segments has doubled over the past five years. For 1QFY2023 ended March, the group’s wealth management income, comprising consolidated income from insurance, private banking, premier banking, PPC, asset management and stockbroking, was $1.1 billion, 33% higher q-o-q, and contributed 33% to the group’s total income.
