OCBC to Boost Hong Kong Wealth Team as Q1 Profit Jumps

OCBC plans to increase its relationship managers in Hong Kong by more than 30% this year as Singapore’s second-largest bank accelerates expansion of its wealth management operations in the city.

The OCBC Hong Kong wealth strategy will see the lender add between 30 and 50 relationship managers during 2026 alongside branch modernisation initiatives.

The bank said Hong Kong remains a core growth market under its broader next-frontier strategy focused on wealth management and affluent banking.

OCBC reported that Hong Kong revenue rose 18% year on year to HKD2.2bn (USD282m) in the first quarter, while net profit after tax jumped 88%.

Wealth management income increased 50%, while corporate wealth income more than tripled during the period.

OCBC also reiterated its ambition of becoming a top-10 lender in Hong Kong by 2030.

The expansion highlights intensifying competition among regional banks to capture rising wealth and family office demand across Greater China.