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By Leong Phei Phei
LIKE a doting parent who watches the growth of his offspring intimately, OCBC is intensely involved with the growth of its small and medium-sized enterprises (SME) customers.
Mr Linus Goh, global head of enterprise banking and financial institution at OCBC, says: 'We actively engage the SMEs from the time when they are newly established as small companies, supporting them through their different stages of growth, up to the time when they grow to the size of a large corporation.'
OCBC does so with its full suite of products and services that cater to the needs of the SMEs at every stage of their development.
For instance, a newly established enterprise may be looking to the bank for services such as cash management and accounting.
At the second stage of development, the SME may consider taking up loans from OCBC to help it expand its capabilities or to build a new factory.
At the final stage, the SME may have its sights set on overseas expansion, and it would require the advice of a bank it trusts.
According to Mr Goh, OCBC's advantage is in its deep understanding of the needs and challenges of SMEs, due in part to its longstanding relationship with them.
He adds: 'The SME segment is an important business to OCBC, and we have been banking the SMEs since the 1930s. Over the years, we have continued to innovate and adapt to rapid changes in the markets brought on by global competition and changing customer preferences and buying behaviours.
'In serving SMEs, OCBC has reinvented the way we partner and support our customers so as to stay relevant to their needs and challenges.
'We believe that our focus on service innovations, as well as industry-based and regional capabilities, has helped us to strengthen our partnerships with our SME customers.'
Some of the service innovations the bank has introduced include its eAlerts@ocbc service, which allows customers to receive cash management notifications via sms or e-mail and trade finance alert notifications via e-mail.
In July last year, OCBC became the first bank in Singapore to open a full-service Business Banking Centre in the Ubi-Paya Lebar area, where there is a high density of SMEs. Here, customers can open business accounts with immediate issuance of cheque books, application of loans and banker's guarantee applications.
Within the banks' operations, there are industry specialists who know the nuts and bolts of industries such as oil and gas, real estate and commodities. With their industry knowledge, these specialists are able to customise financial solutions that address the needs of the SMEs.
SMEs venturing overseas can take heart that OCBC has a presence in 15 markets, including Vietnam, China and Indonesia.
Mr Goh says: 'Venturing abroad is not easy in part due to the cultural and market differences, and this is where OCBC helps our SME customers ease into the business culture in these overseas markets.'
Regarding its involvement in awards such as the Enterprise 50 (E50), where it is the main sponsor, Mr Goh says: 'Our sponsorship in E50 is a deliberate action. We feel it is important for SMEs to get the appropriate recognition for their success, and this is one such platform.
'Many of the E50 companies have gone on to become very successful, and a sizeable number of them are OCBC customers.'
On OCBC's commitment to SMEs, he says: 'The vast majority of the companies in Asia are SMEs. These SMEs are the future, and we are looking at building a long and fruitful relationship with them.'
Ezra Holdings, an OCBC customer, is one company that has done well in Singapore and in the region.
Its managing director Lionel Lee says that especially in the past year, when many insurance companies and banks withheld financial support, OCBC stood out by supporting them with a 'good-sized loan'.
Mr Lee says: 'Because of OCBC, we were able to proceed with our business development plans and continue to grow even when the markets were down. We are definitely looking forward to forging a closer relationship with OCBC in Vietnam, where OCBC has a strong presence.'
This article was first published in The Straits Times.
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