NAB Private Wealth Asia (NPW) news
On 11 May 2017, NAB announced the sale of its NPW business in Hong Kong and Singapore. The sale will see the transfer of most of NAB Private Wealth’s loans and deposits to OCBC Bank. Following completion of the sale, NAB Private Wealth will cease offering new loan and deposit products to retail customers.
Loans and deposits booked in Singapore will be transferred to OCBC Bank in Singapore, while loans and deposits booked in Hong Kong will be transferred to OCBC Bank’s wholly owned subsidiary OCBC Wing Hang in Hong Kong.
Who is OCBC Bank?
OCBC Bank is the longest established Singapore bank and Southeast Asia’s second-largest financial services group. Together with its subsidiaries, OCBC Bank has more than 610 branches and representative offices across 18 markets. Through offering a comprehensive product mix and adopting leading financial technology, it has been able to continually engage customers in fresh ways.
In Singapore, OCBC Bank has an integrated wealth management platform, through which deep customer relationships can be formed. This platform draws on the combined expertise of OCBC Bank and its subsidiaries, offering insurance products from Great Eastern Holdings, equities and bond funds from Lion Global Investors, brokerage services from OCBC Securities and private banking services from Bank of Singapore. In Hong Kong, its subsidiary OCBC Wing Hang offers a wide range of commercial and retail banking products and services, as well as share brokerage, insurance and other financial services. The OCBC Bank network includes over 50 branches and over 1,200 ATMs in Singapore and over 100 OCBC Wing Hang branches and offices and over 3,000 ATMs in Hong Kong, Macau and China. It also offers internet banking services in both Singapore and Hong Kong.
For more information, visit www.ocbc.com (for OCBC Bank Singapore) and www.ocbcwhhk.com (for OCBC Wing Hang).
Not a Hong Kong or Singapore account holder?
These changes will not apply if your account is held in Australia/New Zealand or outside Hong Kong or Singapore. In such case, your terms and conditions remain the same and you can check this via your internet banking or by contacting your Private Client Manager or visiting any NAB Branch (Australia number 13 22 65 or +613 8641 9083).
Keeping you informed
More information on the transfer of your account(s) will be available in the coming weeks as we go through this transition period. We are working with OCBC Bank and OCBC Wing Hang to ensure a seamless transition and continuity of your banking services. We’re here to help. Just get in touch with your NAB Private Wealth Client Manager if you have any questions.
The following table shows our Multi-Currency Term Deposit board rates. These rates are for information purposes only and are subject to change without prior notice.Other terms and currencies available on request, please contact us for full details, including terms and conditions.
INDICATIVE RATES AS AT 20 July 2017
|Currency||1 week||1 month||3 months||6 months||12 months|
|Deposit Rate (%p.a.)
For NAB Private Wealth Customers
32/F, Hysan Place
500 Hennessy Road,
Tel: +852 2822 5342
Fax: +852 2822 9704 / 9706
Service Hours: 9:00 a.m. – 6:00 p.m. (Monday to Friday)