Toward Customer Service Excellence: OCBC Bank`s First-to-Market Digital Solutions
| Case Code: ITSY124 Case Length: 12 Pages Period: 2010-2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.300 Organization: Oversea-Chinese Banking Corporation Limited Industry: Banking Countries: Singapore Themes: Information Systems, Digital Strategy, Customer Relationship Management,Banks and Banking |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
The Oversea-Chinese Banking Corporation Limited (OCBC) registered strong financials for the financial year ending 2020 at a time when the COVID-19 pandemic had resulted in a sharp economic contraction across the world. The bank reported a net profit of Singapore Dollars S$3.59 billion, earned a net interest income of S$5.96 billion, issued customer loans to the tune of S$267 billion, and received customer deposits to the tune of S$315 billion. As per the World Bank, the COVID-19 pandemic had resulted in a 4.3% loss in global economic output in 2020, and the bank’s key markets of Singapore, Malaysia, Indonesia, and Hong Kong Special Administrative Region (SAR) witnessed a GDP contraction between 2.1%-6.1%. Only China registered an economic growth of 2.3%..
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