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Hong Kong: Singapore’s OCBC eyes Wing Hang bank

 |  October 24, 2013

Southeast Asia’s second-largest bank, Oversea-Chinese Banking Corp., is reportedly interested in a potential buyout of Hong Kong based Wing Hang Bank Ltd, according to sources.

OCBC has been eying the bank, worth about $4.7 billion, for more than two weeks, one source said.

The likely bid from the Singapore-based lender could be part of a larger pattern, reports say, of more family-owned banks seeking buyers to stay afloat within China’s tightening competitive climate.

Full content: Gnom.es

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