According to sources, the agency has shortlisted at least two agencies - regional incumbent Y&R and Euro RSCG. Y&R currently handles OCBC’s regional creative business out of Singapore. The pitch comes after OCBC China was launched in early August, with branches planned for Guangzhou, Chengu, Tianjin, Xiamen and Beijing. “We are still in the process of meeting agencies and have yet to appoint one,” said OCBC Bank head of group corporate communications Koh Ching Ching. “The agency will support our marketing activities in China.”
OCBC is the second Singapore bank to obtain local approval in China, after DBS Bank, and is set to target small and medium-sized enterprises, along with wealth management for retail customers. It will launch a full range of RMB services, including loans, deposits, trade finance and capital market services for corporate customers, along with mortgages, wealth management and investment products for retail consumers.
The bank is also considering the launch of credit and debit cards.
