OCBC spends S$55 million on back-office hubs

Hubs in Singapore and Malaysia will be built over the next two years.

Singapore's OCBC Bank will spend S$55 million over the coming two years building back-office hubs in Singapore and Malaysia. The move, which was previously announced in February 2003 as part of the bank's New Horizons strategy, will give OCBC greater processing capacity. The hubs will also act as back-up sites for business continuity and disaster recovery.

The bank's chief executive officer, David Conner, says the plan is consistent with the OCBC's goal to bank the consumer and SME sectors. Our business is expanding in virtually all customer segments and we are actively recruiting to support this growth, says Conner. By adopting a more efficient model for our operations we will...

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