Orient Commercial Joint Stock Bank

Orient Commercial Joint Stock Bank (also known as Oricombank,[1] and OCB[2] ) is a large bank located in Vietnam.[3] Swift code: ORCOVNVX.[4]

Orient Commercial Joint Stock Bank (OCB)
IndustryFinancial services
FoundedJune 10, 1996
Headquarters45 Le Duan Boulevard, District 1, Hochiminh City, Vietnam
Area served
Vietnam
ProductsDeposits services, Loans services, Remittance services, Account service, International settlement
Number of employees
1,539
Websitewww.ocb.com.vn

As of April 2007, 10% of Oricombank was owned by BNP Paribas, a French banking group.

August 26, 2009 OCB agreed to increase[5] 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.

On December 2017, BNP Paribas has sold all 74.7 million shares in OCB and is no longer a shareholder.[6]

Direction

Orient Commercial Bank is aimed at developing into a universal bank with retail banking as its core business. It also sets the target to become one of the top ten Vietnamese Joint Stock banks in 2015, and mature into a Financial group in 2020.

Key shareholders
  • Ben Thanh Group
  • Financial committee of Hochiminh city communist party
  • Bank for foreign trade of Vietnam (Vietcombank)
  • Saigon general service corporation (Savico)

Branch/Transaction Office network

Up to July 27/2010, network of Oricombank presents in 17 provinces and cities throughout Vietnam including:

  • 1 Head office
  • 1 Center transaction office
  • 24 Branches
  • 46 Transaction offices
  • 4 Saving office

Staff

By the end of 8/2010 total head count of Oricombank is 1,539 people.

Milestones
  • 01/10/2010 : OCB joins hands with Liberty.
  • 24/05/2010 : OCB completed the data conversion and put T24 Core Banking System in use in the whole bank
  • 10/03/2010 : Cooperation signing ceremony between OCB – Diebold[7]
  • 29/12/2009  : Increased charter capital to VND 2.000 billion
  • 13/11/2009 : Within the framework of Vietnam – France Entrepreneur forum which was organized by the France Embassy in cooperation with VCCI in Hanoi, Orient Commercial Bank (OCB) has signed memorandum of understanding in regard to the increase of capital contribution of BNP Paribas (France) in OCB to 20% in the appropriate time in the year 2010 and following the approval of the State Bank of Vietnam and the Government
  • 16/09/2009 : OCB and Ernst & Young Vietnam has officially signed a contract to provide support services to perfect the system of internal credit ratings
  • 26/08/2009 : Orient Commercial Bank signed agreement with BNP Paribas to increase OCB’s capital contribution from 10% to 15%
  • 05/02/2009 : OCB started the implementation of Core Banking System Project
  • 30/12/2008 : Increased charter capital to VND 1,474,477
  • 19/12/2008 : Signing ceremony for the implementation of core banking system between OCB and Temenos
  • 28/02/2008 : Strategic alliance between Orient Commercial Bank - BNP Paribas was signed in Paris, France[8]
  • 29/12/2006 : Increased charter capital to VND 567 billion
  • 20/12/2005 : Increased charter capital to VND 300 billion
  • 06/06/2005 : Launched Lucky Oricombank Card
  • Participated in express remittance system of Western Union
  • Participated in Society for Worldwide Interbank Financial Telecommunication (SWIFT)
  • 10/06/1996 : Orient Commercial Joint Stock Bank (OCB) was granted license of operation in 13/04/1996 with initial charter capital of VND 70 million by the State Bank of Vietnam

See also

References
  1. Introduction Oricombank
  2. "OCB Selling Stake To BNP Paribas", Business Week, 2009-04-28
  3. "Orient Commercial Joint Stock Bank; Company Overview", Business Week, February 25, 2010, retrieved February 25, 2010
  4. Inward remittance from oversea to Vietnam
  5. Agreement signing ceremony to increase capital participation of BNPP (france) to OCB, August 26, 2009
  6. https://e.theleader.vn/bnp-paribas-divests-entire-stake-from-the-orient-commercial-bank-20180103140219062.htm
  7. OCB invests US$1.7 mil. to develop bank card network, 10/03/2010 Check date values in: |date= (help)
  8. BNP Paribas and Vietnamese-based bank Orient Commercial Joint-Stock Bank formalise their alliance, 2008-02-28
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