Bank of Ningbo, OCBC Sign Third 10-Year Strategic Pact

Bank of Ningbo and Singapore's OCBC Group signed a new 10-year strategic cooperation agreement in Ningbo on September 17, 2026. It is the third 10-year agreement since the two sides began strategic cooperation in 2006. Bank of Ningbo President Feng Peijiong and OCBC Group Chief Executive Tan Teck Long signed the agreement, with Bank of Ningbo Chairman Zhuang Lingjun and OCBC Group Board Chairman Li Guoqing among those witnessing the signing. Under the new agreement, the two sides will cooperate across business expansion, management optimization, technology upgrading and talent development, leveraging their complementary strengths in customer resources, channel networks and professional expertise to jointly capture opportunities in business, trade, wealth management and investment across ASEAN and Greater China.

OCBC first invested in what was then Ningbo Commercial Bank in 2006, acquiring a 12.2% stake. The bank was renamed Bank of Ningbo in 2007. In 2014, OCBC increased its holding to the 20% cap. In 2017, the two sides signed a second 10-year strategic cooperation agreement. The new agreement will continue the USD 5 million training grant established under the first agreement in 2006, supporting employee training, knowledge sharing, staff secondments and leadership exchange programs. To date, more than 1,000 employees of the two banks have benefited.

In 2025, the number of Chinese companies expanding into ASEAN markets and becoming new OCBC clients rose 50% year on year, a record high. As of September 11, 2026, Bank of Ningbo was China's largest city commercial bank by market capitalization. Its net profit for the first half of 2026 rose 12% to RMB 16.6 billion. With total assets approaching RMB 4 trillion, the bank is a nationally systemically important bank and a global top-100 bank, and is the only A-share-listed bank to have kept its non-performing loan ratio below 1% for 19 consecutive years.