Keppel TatLee Bank was a Singapore-based financial services organisation formed through a merger of Keppel Bank and Tat Lee Bank on 26 December 1998.[3][4] It was acquired by Oversea-Chinese Banking Corporation (OCBC) in August 2001 and was integrated into OCBC Bank in 2002.[5]
History
The bank was formed on 26 December 1998 when Keppel Bank acquired another Singapore financial institution, Tat Lee Bank.[6] Keppel Bank was formed in 1990, when Keppel Corporation acquired the Asia Commercial Bank.[3][4]
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.[7] 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.[5]
References
- Keppel TatLee Bank - Press Release^
- Keppel moves to privatise its finance company Keppel Corporation, 21 March 2001, retrieved 7 October 2019^
- Chwee Huat Tan. Singapore Financial & Business Sourcebook Singapore University Press, 2002^
- Keppel TatLee Bank Reports Record Profit Keppel Corporation, 14 February 2000, retrieved 7 October 2019^
- OCBC BANK AND KEPPEL TATLEE BANK ARE LEGALLY AND OPERATIONALLY ONE OCBC Bank, 2002-02-25, retrieved 2013-03-05^
- Keppel, Tat Lee cut rates by 1/2 -pt The Business Times, 23 November 1998, retrieved 7 February 2024^
- AIB enters Strategic Alliance with Keppel TatLee Bank Business Wire, June 2, 1999^