After a protracted takeover battle, Oversea-Chinesse Banking Corp has put the final touches on its acquisitions of Wing Hang Bank by giving it a new name and logo.

After a protracted takeover battle, Oversea-Chinesse Banking Corp, or OCBC, has put the final touches on its acquisitions of Wing Hang Bank by giving it a new name and logo, taking effect immediately.

From the start of October, 77-year-old Wing Hang Bank’s 80 branches across Hong Kong and Macau are renamed OCBC Wing Hang. Branches open today after the two-day public holiday. A number of banks in Hong Kong, such as HSBC, Standard Chartered, Bank of East Asia and China CITIC have closed some of their branches in recent days amid the pro-democracy demonstrations to have hit the jurisdiction.

In August, OCBC announced a rights issue to raise around S$3.3 billion ($2.65 billion) after acquiring Wing Hang Bank late in July. The deal is also a sign of continued M&A activity in banking around the world, as some firms exit markets where they lack scale while others try to boost market share and economies of scale. (To read more about OCBC’s takeover of Wing Hang Bank, click here.)
The brand includes OCBC Bank’s signature Chinese sailing vessel symbol.

“The logo is emblematic of OCBC Bank’s vision and drive, its readiness to pursue opportunities and its emphasis on innovation,” a statement from OCBC, which is also parent to Bank of Singapore, the private bank, said in a statement yesterday.

“Beyond its branches, the rebranding of Wing Hang Bank to OCBC Wing Hang is a comprehensive one that extends to all customer channels including ATMs, digital platforms, marketing materials and customer items such as statements, cheques and passbooks. All of these will be aligned to OCBC Bank’s corporate identity, which includes the adoption of its corporate red colour,” the statement continued.

“The Group’s comprehensive wealth management capabilities through Bank of Singapore, OCBC Bank’s dedicated private banking subsidiary with a branch in Hong Kong, as well as the expanded range of wealth products in OCBC Wing Hang, will support OCBC Wing Hang individual customers’ wealth creation and preservation needs,” Na Wu Beng, chief executive of OCBC Wing Hang, said.

Wing Hang Bank and its subsidiaries give OCBC a larger Greater China platform comprising a total of 120 branches and offices spanning Hong Kong, Macau, China and Taiwan. Within China, OCBC Bank’s network has increased from 16 banking branches and sub-branches to 31.