OCBC BANK LEADS INDUSTRY IN SETTING UP OF BOARD COMMITTEE ON ETHICS AND CONDUCT

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         OCBC BANK LEADS INDUSTRY IN SETTING UP OF
         BOARD COMMITTEE ON ETHICS AND CONDUCT

  The Ethics and Conduct Board Committee is the first such committee set up by a
  Singapore bank to build a strong, ethical culture, setting the tone from the top.

Singapore, 27 March 2019 – OCBC Bank announced today that it has set
up an Ethics and Conduct Board Committee to ensure that the Group’s
core values of trust and integrity continue to anchor the way it conducts
its business.

Given the environment today, where several financial institutions –
including top international banks – have been mired in controversies in
recent years involving ethical misconduct, the setting up of the new Board
Committee is timely to ensure that responsible banking is rigorously
enforced across the whole OCBC Group.

The new Ethics and Conduct Board Committee (董事部道德与行为委员会)
is chaired by OCBC Bank Chairman, Mr Ooi Sang Kuang ( 黄三光先生,
主席), and includes two other directors – Dr Lee Tih Shih (李迪士博士)
and Ms Christina Ong ( 韩 贵凤 女士 ). It provides oversight of policies,
guidelines and programmes that support a strong and responsible
organisation culture firmly founded on its core values and the spirit of
long-term thinking.

The story and ethos of OCBC Bank over the decades – how sound ethics
and conduct has formed the foundation for the sustainability of its
diversified franchise and the strength of the OCBC brand – are captured
in the book, Wind behind the Sails, that was published in 2017.

The new Board Committee held its first meeting today and laid out its
expectations and standards for all 29,000 employees of the OCBC Group
to sustain and grow a strong culture of responsible banking and fair
dealing.

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Mr Ooi, who has been OCBC Bank’s Chairman since 2014, was previously
Deputy Governor and a Board Director of Bank Negara Malaysia. Dr Lee,
an Associate Professor at the Duke-NUS Medical School, has previously
held senior positions at both OCBC Bank and the Monetary Authority of
Singapore. Ms Ong is the Co-Chairman and Senior Partner of law firm
Allen & Gledhill LLP and has extensive experience in corporate regulatory
and compliance matters.

OCBC Bank Chairman, Mr Ooi Sang Kuang, chairs the new Ethics and Conduct Board Committee, which
will ensure that OCBC’s underlying core values of honesty and integrity are firmly entrenched in each
and every of its employees.

The Bank’s new Culture and Conduct Management Committee chaired
by its Group Chief Executive Officer, Mr Samuel Tsien (钱乃骥先生, 集团
行政总裁), will implement initiatives to enhance existing policies and
programmes on ethics and conduct, as well as roll out new ones to
ensure these core values are always embedded in the DNA of each and
every OCBC Group employee.

Mr Ooi said: “In the last decade, there have been several high-profile
examples of questionable conduct by financial institutions. These
examples span the globe and the misconduct ranges from extreme over-
leveraging to violating international sanctions, tax fraud and money-

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laundering. The misconduct stems mostly from an imbalance between the
pursuit of financial goals and responsible banking.

“OCBC has never wavered from our core values of trust and integrity. We
must never go down the path of putting our own interests above those of
our customers or prioritise short-term profits over long-term customer
relationships. Such long-term relationships are what we have always
invested in since our history began more than 87 years ago. Retaining the
trust of customers – some of whom have banked with us for generations
– is a top priority.”

Mr Ooi added: “The banking industry is transforming rapidly due to
technological advancements and customers’ expectations have also
changed. However, what has not changed is that our customers still
expect us to be utterly worthy of their trust. That is why amid so much
change in the banking industry, our underlying values of integrity and
honesty must never change.”

“Trust in financial institutions is not just critical to a bank’s success.
Without such trust, a country’s financial system will not be able to
productively serve the country and society.”

SOCIAL MEDIA ASSETS

Official hashtags: #ocbcbank #OCBC #SimplySpotOn #ethics

Keywords: OCBC Bank, Ethics, Banking

    Suggested tweet: OCBC Bank leads industry in setting up of Board
    Committee on ethics and conduct to ensure core values of trust and
    integrity are never eroded

     Suggested Facebook post: OCBC Bank has set up a new Board
     Committee overseeing ethics and conduct. The committee will look
     at enhancing policies, programmes and guidelines that inculcate and
     sustain a strong culture of responsible banking and fair dealing.

For all other updates on OCBC, follow @OCBCBank on Twitter and “like”
facebook.com/ocbcbank on Facebook.

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About OCBC Bank

OCBC Bank is the longest established Singapore bank, formed in 1932
from the merger of three local banks, the oldest of which was founded in
1912. It is now the second largest financial services group in Southeast
Asia by assets and one of the world’s most highly-rated banks, with an
Aa1 rating from Moody’s. Recognised for its financial strength and
stability, OCBC Bank is consistently ranked among the World’s Top 50
Safest Banks by Global Finance and has been named Best Managed Bank
in Singapore by The Asian Banker.

OCBC Bank and its subsidiaries offer a broad array of commercial banking,
specialist financial and wealth management services, ranging from
consumer, corporate, investment, private and transaction banking to
treasury, insurance, asset management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater
China. It has more than 570 branches and representative offices in 19
countries and regions. These include over 300 branches and offices in
Indonesia under subsidiary Bank OCBC NISP, and more than 100 branches
and offices in Hong Kong, China and Macau under OCBC Wing Hang.

OCBC Bank’s private banking services are provided by its wholly-owned
subsidiary Bank of Singapore, which operates on a unique open-
architecture product platform to source for the best-in-class products to
meet its clients’ goals.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest
and most established life insurance group in Singapore and Malaysia. Its
asset management subsidiary, Lion Global Investors, is one of the largest
private sector asset management companies in Southeast Asia.

For more information, please visit www.ocbc.com.

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For media queries, please contact:

Ben Nadarajan                        Kelvin Ang
Assistant Vice President             Assistant Vice President
Group Brand and Communications       Group Brand and Communications
OCBC Bank                            OCBC Bank

Tel : (65) 6722 2325                 Tel : (65) 6530 4986
HP: (65) 8833 1426                   HP : (65) 9831 7225

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