Orient Commercial Joint Stock Bank
Vietnamese bank
From Wikipedia, the free encyclopedia
The Orient Commercial Joint Stock Bank (also known as Oricombank[1] and OCB,[2] Vietnamese: Ngân hàng Phương Đông) is a joint-stock commercial bank state-owned (100%) government by the Vietnam National Hydrometeorological Administration under the Ministry of Natural Resources and Environment (now Ministry of Agriculture and Environment in Vietnam.[3] Its Swift code is ORCOVNVX.[4]
Ngân hàng Phương Đông
| |
Native name | Ngân hàng Thương mại Cổ phần Phương Đông Ngân hàng Phương Đông |
|---|---|
Company type | Private |
| HOSE: OCB | |
| Industry | Financial services |
| Founded | June 10, 1996 |
| Headquarters | The Hallmark Tower, 15 Trần Bạch Đằng Boulevard, Thủ Thiêm, Thủ Đức, , |
Area served | Vietnam |
Key people | Trinh Van Tuan, Chairman of the BOD |
| Products | Deposits services, Loans services, Remittance services, Account service, International settlement |
Number of employees | 1,539 |
| Website | www |
History
OCB was established on June 10, 1996 in Ho Chi Minh City.[5][6][7] In the early years of its establishment, OCB focused on developing retail banking services, such as deposit mobilization, lending, payment, card services, etc..[8][9] OCB also expanded its operating network to many provinces and cities across the country.[10][11][12]
From 2000 onwards, OCB began to grow rapidly.[13][14] The bank has developed more modern banking products and services, such as online banking, mobile banking, etc. OCB also invested heavily in information technology and human resource development.[15][16]
In 2008, OCB was granted a license by the State Bank of Vietnam to establish Phương Đông Securities Company (OCB Securities).[17] On August 26, 2009 OCB agreed to increase[18] steadily share ownership for BNP Paribas from 10% to 15% and to 20% after the approval of the State Bank of Vietnam and the Government. In December 2017, BNP Paribas has sold all 74.7 million shares in OCB and is no longer a shareholder.[19]
In 2018, OCB was recognized by the State Bank of Vietnam for successfully completing the implementation of Basel II. Basel II is an international set of standards for bank risk management.[20][21] In January 2020, Aozora Bank of Japan purchased a 15% stake in OCB.[22]
In 2021, OCB was officially listed on the Ho Chi Minh City Stock Exchange (HOSE).[23][24]
