Keppel TatLee Bank

Keppel TatLee Bank
Fate Merged with Oversea-Chinese Banking Corporation
Predecessor
Founded Singapore (December 26, 1998 (1998-12-26))
Defunct February 25, 2002 (2002-02-25)
Key people
 Benedict Kwek (CEO)
Services Financial services
Revenue Increase SG$469.456 million (1999)[1]
Increase SG$312.873 million (1999)[1]
Decrease SG$186.703 million (1999)[1]
Total assets Increase SG$22,406.634 million (1999)[1]
Parent Keppel Capital Holdings Ltd (since 2001)[2]

Keppel TatLee Bank (Chinese: 吉宝达利银行; pinyin: Jíbǎo Dálì Yínháng) was a Singapore-based financial services organisation formed through a merger of Keppel Bank and Tat Lee Bank in 1998.[3] It was acquired by Oversea-Chinese Banking Corporation (OCBC) in August 2001 and was integrated into OCBC Bank in 2002.[4]

History

The bank was formed in 1998 when Keppel Bank acquired another Singapore financial institution, Tat Lee Bank. Keppel Bank was formed in 1990, when Keppel Corporation acquired the Asia Commercial Bank.[3]

The bank formed a strategic alliance with Allied Irish Banks in 1999, which allowed AIB to take up a 24.9% stake in the bank.[5] In 2001, the bank was privatised and became a subsidiary of Keppel Capital Holdings Ltd (KCH), as part of a restructure of KCH.[2] Its parent company was then acquired by OCBC, operationally and legally integrated with it in 2002.[4]

References

  1. 1 2 3 4 Keppel TatLee Bank - Press Release
  2. 1 2 "Keppel moves to privatise its finance company" (Press release). Singapore: Keppel Capital Holdings Ltd. 2001-03-21. Retrieved 2013-03-05. Keppel Capital Holdings Ltd (KCH) and Keppel TatLee Finance Limited (KTF) have proposed a scheme of arrangement (the Scheme) to privatise KTF as a wholly owned subsidiary of KCH.
  3. 1 2 Chwee Huat, Tan (2002). Singapore Financial & Business Sourcebook. Singapore: Singapore University Press. p. 572. ISBN 9789971692568.
  4. 1 2 "OCBC BANK AND KEPPEL TATLEE BANK ARE LEGALLY AND OPERATIONALLY ONE" (PDF) (Press release). Singapore: OCBC Bank. 2002-02-25. Retrieved 2013-03-05.
  5. ↑ "AIB enters Strategic Alliance with Keppel TatLee Bank". Business Wire. June 2, 1999.
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