Wednesday, 2 November 2016

Stock investment : OCBC cites compliance burden as reason to expand private bank .

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Oversea-Chinese Banking Corp's Chief Executive Officer Samuel Tsien said surging consistence expenses are one variable impelling him to grow his Asian riches administration business, when some abroad contenders are withdrawing.

That is on account of the quickly extending expenses of consenting to against government evasion, charge consistence and other administrative prerequisites - ascending by 35% every year over the entire bank - should be spread out crosswise over however many charge producing customers as would be prudent, as per Tsien.

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