OCBC inks new 10-year partnership with Bank of Ningbo

OCBC has a 20% stake in the Zhejiang-based bank and will continue its US$5m training grant.

OCBC has inked a new 10-year strategic cooperation agreement with Bank of Ningbo, a China-based bank based in Ningbo, Zhejiang.

OCBC’s CEO Tan Teck Long signed the new agreement with Bank of Ningbo president Feng Peijiong in Ningbo, the Singapore-based bank said in an announcement on 17 September 2026. OCBC chairman Andrew Lee and Bank of Ningbo chairman Zhuang Lingjun were present.

OCBC acquired a 12.2% stake in Ningbo Commercial Bank in 2006, before the bank was renamed to Bank of Ningbo in 2007. It raised its shareholding to 20% in 2014.

OCBC will continue its US$5m training grant, first established in the 2006 agreement, to support staff training, knowledge sharing initiatives, staff secondment and leadership exchange programmes between the two banks. Over 1,000 employees across the two banks have benefitted from the grant.

Bank of Ningbo is the largest city commercial bank in China by market capitalisation, and its net profit grew 12% year-on-year in the first half of 2026 to $2.48b (RMB16.6b).