SINGAPORE Aug 18 Oversea-Chinese Banking Corp
said on Monday that it will be well capitalised after
raising S$3.37 billion ($2.7 billion) via a rights issue
following its acquisition of Hong Kong's Wing Hang Bank
The bank's Chief Financial Officer Darren Tan said that the
bank's common tier 1 capital ratio will be 13.2 percent after
the rights issue. Once the new Basel III bank capital rules are
fully implemented, the bank's tier one ratio in line with the
new regulation will be 10.2 percent, he added.
"OCBC Bank's capital position will remain robust
post-acquisition," Tan said at a news briefing via a video link
from Hong Kong.
The bank announced the rights issue earlier on Monday.
(1 US dollar = 1.2441 Singapore dollar)
(Reporting by Saeed Azhar; Writing by Rachel Armstrong)