Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has entered into a new 10-year strategic cooperation agreement with China's Bank of Ningbo to capture growing business, trade, wealth, and investment opportunities across ASEAN and Greater China, according to a Thursday statement.
Under the partnership, the two banks will continue to collaborate in areas of wholesale banking and wealth management.
Under the new 10-year agreement, OCBC, which holds a 20% stake in Bank of Ningbo, will also continue its $5 million training grant, first established in the 2006 agreement, for talent development with Bank of Ningbo.
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